0000858581falseN-CSRST. ROWE PRICE INDEX TRUST, INC.N-1A2025-06-300000858581trp:C000161837Member2025-01-012025-06-3000008585812025-01-012025-06-300000858581trp:C000161837Member2025-06-300000858581trp:C000161837Membertrp:FinancialsSectorMember2025-06-300000858581trp:C000161837Membertrp:IndustrialsBusinessServicesSectorMember2025-06-300000858581trp:C000161837Memberus-gaap:HealthcareSectorMember2025-06-300000858581trp:C000161837Memberoef:InformationTechnologySectorMember2025-06-300000858581trp:C000161837Memberoef:ConsumerDiscretionarySectorMember2025-06-300000858581trp:C000161837Memberus-gaap:RealEstateSectorMember2025-06-300000858581trp:C000161837Memberus-gaap:EnergySectorMember2025-06-300000858581trp:C000161837Memberoef:MaterialsSectorMember2025-06-300000858581trp:C000161837Memberoef:UtilitiesSectorMember2025-06-300000858581trp:C000161837Membertrp:OtherHoldingsGroupingSectorMember2025-06-300000858581trp:C000161837Membertrp:CredoTechnologyGroupHoldingCTIMember2025-06-300000858581trp:C000161837Membertrp:FabrinetCTIMember2025-06-300000858581trp:C000161837Membertrp:IonQCTIMember2025-06-300000858581trp:C000161837Membertrp:HimsHersHealthCTIMember2025-06-300000858581trp:C000161837Membertrp:HealthEquityCTIMember2025-06-300000858581trp:C000161837Membertrp:EnsignGroupCTIMember2025-06-300000858581trp:C000161837Membertrp:FluorCTIMember2025-06-300000858581trp:C000161837Membertrp:BlueprintMedicinesCTIMember2025-06-300000858581trp:C000161837Membertrp:AeroVironmentCTIMember2025-06-300000858581trp:C000161837Membertrp:BrinkerInternationalCTIMember2025-06-300000858581trp:C000161838Member2025-01-012025-06-300000858581trp:C000161838Member2025-06-300000858581trp:C000161838Membertrp:FinancialsSectorMember2025-06-300000858581trp:C000161838Membertrp:IndustrialsBusinessServicesSectorMember2025-06-300000858581trp:C000161838Memberus-gaap:HealthcareSectorMember2025-06-300000858581trp:C000161838Memberoef:InformationTechnologySectorMember2025-06-300000858581trp:C000161838Memberoef:ConsumerDiscretionarySectorMember2025-06-300000858581trp:C000161838Memberus-gaap:RealEstateSectorMember2025-06-300000858581trp:C000161838Memberus-gaap:EnergySectorMember2025-06-300000858581trp:C000161838Memberoef:MaterialsSectorMember2025-06-300000858581trp:C000161838Memberoef:UtilitiesSectorMember2025-06-300000858581trp:C000161838Membertrp:OtherHoldingsGroupingSectorMember2025-06-300000858581trp:C000161838Membertrp:CredoTechnologyGroupHoldingCTIMember2025-06-300000858581trp:C000161838Membertrp:FabrinetCTIMember2025-06-300000858581trp:C000161838Membertrp:IonQCTIMember2025-06-300000858581trp:C000161838Membertrp:HimsHersHealthCTIMember2025-06-300000858581trp:C000161838Membertrp:HealthEquityCTIMember2025-06-300000858581trp:C000161838Membertrp:EnsignGroupCTIMember2025-06-300000858581trp:C000161838Membertrp:FluorCTIMember2025-06-300000858581trp:C000161838Membertrp:BlueprintMedicinesCTIMember2025-06-300000858581trp:C000161838Membertrp:AeroVironmentCTIMember2025-06-300000858581trp:C000161838Membertrp:BrinkerInternationalCTIMember2025-06-300000858581trp:C000219329Member2025-01-012025-06-300000858581trp:C000219329Member2025-06-300000858581trp:C000219329Membertrp:FinancialsSectorMember2025-06-300000858581trp:C000219329Membertrp:IndustrialsBusinessServicesSectorMember2025-06-300000858581trp:C000219329Memberus-gaap:HealthcareSectorMember2025-06-300000858581trp:C000219329Memberoef:InformationTechnologySectorMember2025-06-300000858581trp:C000219329Memberoef:ConsumerDiscretionarySectorMember2025-06-300000858581trp:C000219329Memberus-gaap:RealEstateSectorMember2025-06-300000858581trp:C000219329Memberus-gaap:EnergySectorMember2025-06-300000858581trp:C000219329Memberoef:MaterialsSectorMember2025-06-300000858581trp:C000219329Memberoef:UtilitiesSectorMember2025-06-300000858581trp:C000219329Membertrp:OtherHoldingsGroupingSectorMember2025-06-300000858581trp:C000219329Membertrp:CredoTechnologyGroupHoldingCTIMember2025-06-300000858581trp:C000219329Membertrp:FabrinetCTIMember2025-06-300000858581trp:C000219329Membertrp:IonQCTIMember2025-06-300000858581trp:C000219329Membertrp:HimsHersHealthCTIMember2025-06-300000858581trp:C000219329Membertrp:HealthEquityCTIMember2025-06-300000858581trp:C000219329Membertrp:EnsignGroupCTIMember2025-06-300000858581trp:C000219329Membertrp:FluorCTIMember2025-06-300000858581trp:C000219329Membertrp:BlueprintMedicinesCTIMember2025-06-300000858581trp:C000219329Membertrp:AeroVironmentCTIMember2025-06-300000858581trp:C000219329Membertrp:BrinkerInternationalCTIMember2025-06-30iso4217:USDxbrli:sharesiso4217:USDxbrli:sharesxbrli:pureutr:Dtrp:Holding

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-05986

T. Rowe Price Index Trust, Inc.

 

(Exact name of registrant as specified in charter)

1307 Point Street, Baltimore, MD 21231

 

(Address of principal executive offices)

David Oestreicher

1307 Point Street, Baltimore, MD 21231

 

(Name and address of agent for service)

Registrant’s telephone number, including area code: (410) 345-2000

Date of fiscal year end: December 31 

Date of reporting period: June 30, 2025

Item 1. Reports to Shareholders

(a) Report pursuant to Rule 30e-1

Image

Semi-Annual Shareholder Report

June 30, 2025

Small-Cap Index Fund

Investor Class (TRSYX)

This semi-annual shareholder report contains important information about Small-Cap Index Fund (the "fund") for the period of January 1, 2025 to June 30, 2025. You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary. 

What were the fund costs for the last six months? (based on a hypothetical $10,000 investment)

 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Small-Cap Index Fund - Investor Class
$14
0.29%

What are some fund statistics?

Fund Statistics

Total Net Assets (000s)
$241,540
Number of Portfolio Holdings
2,005
Portfolio Turnover Rate
13.9%

What did the fund invest in?

Sector Allocation (as a % of Net Assets)

Financials
18.9%
Industrials & Business Services
16.9
Health Care
15.9
Information Technology
14.5
Consumer Discretionary
9.9
Real Estate
6.0
Energy
4.8
Materials
3.8
Utilities
3.2
Other
6.1

Top Ten Holdings (as a % of Net Assets)

Credo Technology Group Holding
0.5%
Fabrinet
0.4
IonQ
0.4
Hims & Hers Health
0.4
HealthEquity
0.4
Ensign Group
0.3
Fluor
0.3
Blueprint Medicines
0.3
AeroVironment
0.3
Brinker International
0.3

If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.

Visit www.troweprice.com/en/us/market-data-disclosures for additional legal notices & disclaimers.

202505-4461501

F33-053 8/25

Small-Cap Index Fund 

Investor Class (TRSYX)

T. Rowe Price Investment Services, Inc.

1307 Point Street

Baltimore, Maryland 21231

Image
Image

Semi-Annual Shareholder Report

June 30, 2025

Small-Cap Index Fund

I Class (TRCSX)

This semi-annual shareholder report contains important information about Small-Cap Index Fund (the "fund") for the period of January 1, 2025 to June 30, 2025. You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary. 

What were the fund costs for the last six months? (based on a hypothetical $10,000 investment)

 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Small-Cap Index Fund - I Class
$7
0.14%

What are some fund statistics?

Fund Statistics

Total Net Assets (000s)
$241,540
Number of Portfolio Holdings
2,005
Portfolio Turnover Rate
13.9%

What did the fund invest in?

Sector Allocation (as a % of Net Assets)

Financials
18.9%
Industrials & Business Services
16.9
Health Care
15.9
Information Technology
14.5
Consumer Discretionary
9.9
Real Estate
6.0
Energy
4.8
Materials
3.8
Utilities
3.2
Other
6.1

Top Ten Holdings (as a % of Net Assets)

Credo Technology Group Holding
0.5%
Fabrinet
0.4
IonQ
0.4
Hims & Hers Health
0.4
HealthEquity
0.4
Ensign Group
0.3
Fluor
0.3
Blueprint Medicines
0.3
AeroVironment
0.3
Brinker International
0.3

If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.

Visit www.troweprice.com/en/us/market-data-disclosures for additional legal notices & disclaimers.

202505-4461501

F541-053 8/25

Small-Cap Index Fund 

I Class (TRCSX)

T. Rowe Price Investment Services, Inc.

1307 Point Street

Baltimore, Maryland 21231

Image
Image

Semi-Annual Shareholder Report

June 30, 2025

Small-Cap Index Fund

Z Class (TRZIX)

This semi-annual shareholder report contains important information about Small-Cap Index Fund (the "fund") for the period of January 1, 2025 to June 30, 2025. You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary. 

What were the fund costs for the last six months? (based on a hypothetical $10,000 investment)

 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Small-Cap Index Fund - Z Class
$0
0.00%

What are some fund statistics?

Fund Statistics

Total Net Assets (000s)
$241,540
Number of Portfolio Holdings
2,005
Portfolio Turnover Rate
13.9%

What did the fund invest in?

Sector Allocation (as a % of Net Assets)

Financials
18.9%
Industrials & Business Services
16.9
Health Care
15.9
Information Technology
14.5
Consumer Discretionary
9.9
Real Estate
6.0
Energy
4.8
Materials
3.8
Utilities
3.2
Other
6.1

Top Ten Holdings (as a % of Net Assets)

Credo Technology Group Holding
0.5%
Fabrinet
0.4
IonQ
0.4
Hims & Hers Health
0.4
HealthEquity
0.4
Ensign Group
0.3
Fluor
0.3
Blueprint Medicines
0.3
AeroVironment
0.3
Brinker International
0.3

If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.

Visit www.troweprice.com/en/us/market-data-disclosures for additional legal notices & disclaimers.

202505-4461501

F1267-053 8/25

Small-Cap Index Fund 

Z Class (TRZIX)

T. Rowe Price Investment Services, Inc.

1307 Point Street

Baltimore, Maryland 21231

Image

Item 1. (b) Notice pursuant to Rule 30e-3.

Not applicable.

Item 2. Code of Ethics.

A code of ethics, as defined in Item 2 of Form N-CSR, applicable to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions is filed as an exhibit to the registrant’s annual Form N-CSR. No substantive amendments were approved or waivers were granted to this code of ethics during the registrant’s most recent fiscal half-year.

Item 3. Audit Committee Financial Expert.

Disclosure required in registrant’s annual Form N-CSR.

Item 4. Principal Accountant Fees and Services.

Disclosure required in registrant’s annual Form N-CSR.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

(a) Not applicable. The complete schedule of investments is included in Item 7 of this Form N-CSR.

(b) Not applicable.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

(a – b) Report pursuant to Regulation S-X.

 

Financial
Highlights
Portfolio
of
Investments
Financial
Statements
and
Notes
Additional
Fund
Information
June
30,
2025
Financial
Statements
and
Other
Information
For
more
insights
from
T.
Rowe
Price
investment
professionals,
go
to
troweprice.com
.
T.
ROWE
PRICE
TRSYX
Small-Cap
Index
Fund
TRCSX
Small-Cap
Index
Fund–
.
I Class
TRZIX
Small-Cap
Index
Fund–
.
Z Class
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Financial
Highlights
2
For
a
share
outstanding
throughout
each
period
Investor
Class
6
Months
.
Ended
6/30/25
..
Year
..
..
Ended
.
12/31/24
12/31/23
12/31/22
12/31/21
12/31/20
NET
ASSET
VALUE
Beginning
of
period
$
15
.60‌
$
14
.40‌
$
12
.48‌
$
15
.93‌
$
14
.16‌
$
12
.20‌
Investment
activities
Net
investment
income
(1)(2)
0
.07‌
0
.18‌
0
.18‌
0
.17‌
0
.11‌
0
.11‌
Net
realized
and
unrealized
gain/
loss
(
0
.36‌
)
1
.46‌
1
.90‌
(
3
.44‌
)
1
.91‌
2
.30‌
Total
from
investment
activities
(
0
.29‌
)
1
.64‌
2
.08‌
(
3
.27‌
)
2
.02‌
2
.41‌
Distributions
Net
investment
income
—‌
(
0
.18‌
)
(
0
.16‌
)
(
0
.16‌
)
(
0
.11‌
)
(
0
.12‌
)
Net
realized
gain
—‌
(
0
.26‌
)
—‌
(
0
.02‌
)
(
0
.14‌
)
(
0
.33‌
)
Total
distributions
—‌
(
0
.44‌
)
(
0
.16‌
)
(
0
.18‌
)
(
0
.25‌
)
(
0
.45‌
)
NET
ASSET
VALUE
End
of
period
$
15
.31‌
$
15
.60‌
$
14
.40‌
$
12
.48‌
$
15
.93‌
$
14
.16‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Financial
Highlights
3
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Investor
Class
6
Months
.
Ended
6/30/25
..
Year
..
..
Ended
.
12/31/24
12/31/23
12/31/22
12/31/21
12/31/20
Ratios/Supplemental
Data
Total
return
(2)(3)
(
1
.86‌
)
%
11
.24‌
%
16
.75‌
%
(
20
.58‌
)
%
14
.32‌
%
19
.88‌
%
Ratios
to
average
net
assets:
(2)
Gross
expenses
before
waivers/
payments
by
Price
Associates
0
.29‌
%
(4)
0
.34‌
%
0
.35‌
%
4
.93‌
%
1
.87‌
%
4
.10‌
%
Net
expenses
after
waivers/
payments
by
Price
Associates
0
.29‌
%
(4)
0
.29‌
%
0
.29‌
%
0
.29‌
%
0
.34‌
%
0
.35‌
%
Net
investment
income
0
.98‌
%
(4)
1
.22‌
%
1
.39‌
%
1
.26‌
%
0
.70‌
%
1
.00‌
%
Portfolio
turnover
rate
13
.9‌
%
24
.7‌
%
27
.2‌
%
22
.0‌
%
29
.0‌
%
21
.1‌
%
Net
assets,
end
of
period
(in
thousands)
$97
$98
$177
$154
$197
$6,726
0‌
%
0‌
%
0‌
%
0‌
%
0‌
%
0‌
%
(1)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(2)
Includes
the
impact
of
expense-related
arrangements
with
Price
Associates.
(3)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
Total
return
is
not
annualized
for
periods
less
than
one
year.
(4)
Annualized
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Financial
Highlights
4
For
a
share
outstanding
throughout
each
period
I
Class
6
Months
.
Ended
6/30/25
..
Year
..
..
Ended
.
12/31/24
12/31/23
12/31/22
12/31/21
12/31/20
NET
ASSET
VALUE
Beginning
of
period
$
15
.65‌
$
14
.47‌
$
12
.54‌
$
16
.01‌
$
14
.21‌
$
12
.23‌
Investment
activities
Net
investment
income
(1)(2)
0
.08‌
0
.21‌
0
.20‌
0
.19‌
0
.18‌
0
.13‌
Net
realized
and
unrealized
gain/
loss
(
0
.36‌
)
1
.47‌
1
.91‌
(
3
.46‌
)
1
.89‌
2
.30‌
Total
from
investment
activities
(
0
.28‌
)
1
.68‌
2
.11‌
(
3
.27‌
)
2
.07‌
2
.43‌
Distributions
Net
investment
income
—‌
(
0
.24‌
)
(
0
.18‌
)
(
0
.18‌
)
(
0
.13‌
)
(
0
.12‌
)
Net
realized
gain
—‌
(
0
.26‌
)
—‌
(
0
.02‌
)
(
0
.14‌
)
(
0
.33‌
)
Total
distributions
—‌
(
0
.50‌
)
(
0
.18‌
)
(
0
.20‌
)
(
0
.27‌
)
(
0
.45‌
)
NET
ASSET
VALUE
End
of
period
$
15
.37‌
$
15
.65‌
$
14
.47‌
$
12
.54‌
$
16
.01‌
$
14
.21‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Financial
Highlights
5
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
I
Class
6
Months
.
Ended
6/30/25
..
Year
..
..
Ended
.
12/31/24
12/31/23
12/31/22
12/31/21
12/31/20
Ratios/Supplemental
Data
Total
return
(2)(3)
(
1
.79‌
)
%
11
.40‌
%
16
.92‌
%
(
20
.48‌
)
%
14
.63‌
%
20
.00‌
%
Ratios
to
average
net
assets:
(2)
Gross
expenses
before
waivers/
payments
by
Price
Associates
0
.28‌
%
(4)
0
.31‌
%
0
.40‌
%
0
.42‌
%
0
.65‌
%
3
.93‌
%
Net
expenses
after
waivers/
payments
by
Price
Associates
0
.14‌
%
(4)
0
.14‌
%
0
.14‌
%
0
.14‌
%
0
.17‌
%
0
.20‌
%
Net
investment
income
1
.15‌
%
(4)
1
.38‌
%
1
.55‌
%
1
.43‌
%
1
.12‌
%
1
.15‌
%
Portfolio
turnover
rate
13
.9‌
%
24
.7‌
%
27
.2‌
%
22
.0‌
%
29
.0‌
%
21
.1‌
%
Net
assets,
end
of
period
(in
thousands)
$136,170
$132,082
$112,086
$85,393
$90,212
$355
0‌
%
0‌
%
0‌
%
0‌
%
0‌
%
0‌
%
(1)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(2)
Includes
the
impact
of
expense-related
arrangements
with
Price
Associates.
(3)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
Total
return
is
not
annualized
for
periods
less
than
one
year.
(4)
Annualized
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Financial
Highlights
6
For
a
share
outstanding
throughout
each
period
Z
Class
6
Months
.
Ended
6/30/25
..
Year
..
..
Ended
.
3/16/20
(1)
Through
12/31/20
12/31/24
12/31/23
12/31/22
12/31/21
NET
ASSET
VALUE
Beginning
of
period
$
15
.65‌
$
14
.46‌
$
12
.53‌
$
15
.99‌
$
14
.20‌
$
7
.59‌
Investment
activities
Net
investment
income
(2)(3)
0
.10‌
0
.24‌
0
.23‌
0
.22‌
0
.23‌
0
.11‌
Net
realized
and
unrealized
gain/
loss
(
0
.38‌
)
1
.46‌
1
.90‌
(
3
.47‌
)
1
.85‌
6
.95‌
Total
from
investment
activities
(
0
.28‌
)
1
.70‌
2
.13‌
(
3
.25‌
)
2
.08‌
7
.06‌
Distributions
Net
investment
income
—‌
(
0
.25‌
)
(
0
.20‌
)
(
0
.19‌
)
(
0
.15‌
)
(
0
.12‌
)
Net
realized
gain
—‌
(
0
.26‌
)
—‌
(
0
.02‌
)
(
0
.14‌
)
(
0
.33‌
)
Total
distributions
—‌
(
0
.51‌
)
(
0
.20‌
)
(
0
.21‌
)
(
0
.29‌
)
(
0
.45‌
)
NET
ASSET
VALUE
End
of
period
$
15
.37‌
$
15
.65‌
$
14
.46‌
$
12
.53‌
$
15
.99‌
$
14
.20‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Financial
Highlights
7
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Z
Class
6
Months
.
Ended
6/30/25
..
Year
..
..
Ended
.
3/16/20
(1)
Through
12/31/20
12/31/24
12/31/23
12/31/22
12/31/21
Ratios/Supplemental
Data
Total
return
(3)(4)
(
1
.79‌
)
%
11
.61‌
%
17
.07‌
%
(
20
.35‌
)
%
14
.71‌
%
93
.22‌
%
Ratios
to
average
net
assets:
(3)
Gross
expenses
before
waivers/
payments
by
Price
Associates
0
.25‌
%
(5)
0
.26‌
%
0
.32‌
%
0
.38‌
%
0
.72‌
%
3
.86‌
%
(5)
Net
expenses
after
waivers/
payments
by
Price
Associates
0
.00‌
%
(5)
0
.00‌
%
0
.00‌
%
0
.00‌
%
0
.01‌
%
0
.01‌
%
(5)
Net
investment
income
1
.30‌
%
(5)
1
.55‌
%
1
.75‌
%
1
.67‌
%
1
.40‌
%
1
.30‌
%
(5)
Portfolio
turnover
rate
13
.9‌
%
24
.7‌
%
27
.2‌
%
22
.0‌
%
29
.0‌
%
21
.1‌
%
Net
assets,
end
of
period
(in
thousands)
$105,273
$74,199
$36,196
$11,833
$1,104
$187
0‌
%
0‌
%
0‌
%
0‌
%
0‌
%
0‌
%
(1)
Inception
date
(2)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(3)
Includes
the
impact
of
expense-related
arrangements
with
Price
Associates.
(4)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
Total
return
is
not
annualized
for
periods
less
than
one
year.
(5)
Annualized
T.
ROWE
PRICE
Small-Cap
Index
Fund
June
30,
2025
(Unaudited)
8
Portfolio
of
Investments
‡
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
COMMON
STOCKS
 98.8%
COMMUNICATION
SERVICES
 2.6%
Diversified
Telecommunication
Services
 0.4%
Anterix (1)
1,216‌
31‌
ATN
International 
861‌
14‌
Bandwidth,
Class
A (1)
2,523‌
40‌
Cogent
Communications
Holdings 
4,221‌
204‌
Globalstar (1)
4,704‌
111‌
IDT,
Class
B 
1,527‌
104‌
Liberty
Latin
America,
Class
A (1)
2,816‌
17‌
Liberty
Latin
America,
Class
C (1)
11,638‌
72‌
Lumen
Technologies (1)
89,369‌
392‌
Shenandoah
Telecommunications 
4,763‌
65‌
1,050‌
Entertainment
 0.5%
AMC
Entertainment
Holdings,
Class
A (1)
36,723‌
114‌
Atlanta
Braves
Holdings,
Class
A (1)(2)
630‌
31‌
Atlanta
Braves
Holdings,
Class
C (1)
4,322‌
202‌
Cinemark
Holdings 
9,981‌
301‌
CuriosityStream 
3,011‌
17‌
Eventbrite,
Class
A (1)
6,967‌
18‌
Gaia (1)
1,615‌
7‌
Golden
Matrix
Group (1)
1,587‌
3‌
IMAX (1)
4,049‌
113‌
Lionsgate
Studios (1)(2)
18,092‌
105‌
Madison
Square
Garden
Entertainment (1)
3,683‌
147‌
Marcus 
2,122‌
36‌
Playstudios (1)
7,880‌
10‌
Playtika
Holding 
5,287‌
25‌
Reservoir
Media (1)
1,872‌
14‌
Sphere
Entertainment (1)(2)
2,573‌
108‌
Starz
Entertainment (1)
1,147‌
19‌
Vivid
Seats,
Class
A (1)(2)
7,034‌
12‌
1,282‌
Interactive
Media
&
Services
 0.7%
Angi (1)
4,065‌
62‌
Arena
Group
Holdings (1)
1,223‌
8‌
Bumble,
Class
A (1)
7,491‌
49‌
Cargurus (1)
7,707‌
258‌
Cars.com (1)
5,435‌
64‌
EverQuote,
Class
A (1)
2,569‌
62‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
9
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
fuboTV (1)
31,289‌
121‌
Getty
Images
Holdings (1)
10,366‌
17‌
Grindr (1)
3,131‌
71‌
MediaAlpha,
Class
A (1)
3,128‌
34‌
Nextdoor
Holdings (1)
19,889‌
33‌
QuinStreet (1)
5,135‌
83‌
Rumble (1)
7,390‌
66‌
Shutterstock 
2,193‌
42‌
Teads
Holding (1)
3,077‌
8‌
Travelzoo (1)
601‌
8‌
TripAdvisor (1)
10,909‌
142‌
TrueCar (1)
6,696‌
13‌
Vimeo (1)
14,761‌
60‌
VTEX,
Class
A (1)
5,423‌
36‌
Webtoon
Entertainment (1)(2)
1,692‌
15‌
Yelp (1)
5,871‌
201‌
Ziff
Davis (1)
3,931‌
119‌
ZipRecruiter,
Class
A (1)
6,425‌
32‌
1,604‌
Media
 0.8%
Advantage
Solutions (1)(2)
9,457‌
12‌
Altice
USA,
Class
A (1)
24,533‌
52‌
AMC
Networks,
Class
A (1)
2,786‌
17‌
Boston
Omaha,
Class
A (1)
2,201‌
31‌
Cable
One 
515‌
70‌
EchoStar,
Class
A (1)
12,714‌
352‌
Emerald
Holding 
1,038‌
5‌
Entravision
Communications,
Class
A 
5,422‌
13‌
EW
Scripps,
Class
A (1)
5,530‌
16‌
Gambling.com
Group (1)
1,524‌
18‌
Gannett (1)
12,771‌
46‌
Gray
Media 
8,258‌
37‌
Ibotta,
Class
A (1)(2)
1,219‌
45‌
iHeartMedia,
Class
A (1)
11,224‌
20‌
Integral
Ad
Science
Holding (1)
7,151‌
59‌
John
Wiley
&
Sons,
Class
A 
3,859‌
172‌
Magnite (1)
13,122‌
316‌
National
CineMedia 
6,357‌
31‌
Newsmax (1)
718‌
11‌
Nexxen
International (1)
3,550‌
37‌
PubMatic,
Class
A (1)
3,917‌
49‌
Scholastic 
2,127‌
45‌
Sinclair 
3,625‌
50‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
10
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Stagwell (1)
10,836‌
49‌
TechTarget (1)
2,283‌
18‌
TEGNA 
15,079‌
253‌
Thryv
Holdings (1)
3,424‌
42‌
WideOpenWest (1)
4,560‌
19‌
1,885‌
Wireless
Telecommunication
Services
 0.2%
Gogo (1)
6,251‌
92‌
Spok
Holdings 
1,913‌
34‌
Telephone
&
Data
Systems 
9,193‌
327‌
453‌
Total
Communication
Services
6,274‌
CONSUMER
DISCRETIONARY
 9.9%
Automobile
Components
 1.2%
Adient (1)
7,894‌
154‌
American
Axle
&
Manufacturing
Holdings (1)
10,516‌
43‌
Cooper-Standard
Holdings (1)
1,587‌
34‌
Dana 
12,414‌
213‌
Dorman
Products (1)
2,588‌
317‌
Fox
Factory
Holding (1)
3,838‌
100‌
Garrett
Motion 
11,905‌
125‌
Gentherm (1)
2,934‌
83‌
Goodyear
Tire
&
Rubber (1)
24,462‌
254‌
Holley (1)
5,624‌
11‌
LCI
Industries 
2,293‌
209‌
Luminar
Technologies (1)(2)
3,798‌
11‌
Modine
Manufacturing (1)
4,913‌
484‌
Motorcar
Parts
of
America (1)
1,718‌
19‌
Patrick
Industries 
3,046‌
281‌
Phinia 
3,692‌
164‌
Solid
Power (1)(2)
14,148‌
31‌
Standard
Motor
Products 
1,997‌
61‌
Strattec
Security (1)
364‌
23‌
Visteon (1)
2,575‌
240‌
XPEL (1)
2,281‌
82‌
2,939‌
Automobiles
 0.0%
Faraday
Future
Intelligent
Electric (1)
8,396‌
14‌
Livewire
Group (1)(2)
3,459‌
16‌
Winnebago
Industries 
2,644‌
77‌
107‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
11
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Broadline
Retail
 0.1%
Groupon (1)(2)
2,347‌
78‌
Kohl's 
10,231‌
87‌
Savers
Value
Village (1)
1,986‌
20‌
185‌
Distributors
 0.0%
A-Mark
Precious
Metals 
1,784‌
40‌
GigaCloud
Technology,
Class
A (1)
2,486‌
49‌
Weyco
Group 
519‌
17‌
106‌
Diversified
Consumer
Services
 1.4%
Adtalem
Global
Education (1)
3,488‌
444‌
American
Public
Education (1)
1,535‌
47‌
Carriage
Services 
1,333‌
61‌
Clear
Secure,
Class
A 
7,836‌
217‌
Coursera (1)
12,971‌
114‌
European
Wax
Center,
Class
A (1)
2,857‌
16‌
Frontdoor (1)
6,971‌
411‌
Graham
Holdings,
Class
B 
302‌
286‌
KinderCare
Learning (1)
2,963‌
30‌
Laureate
Education (1)
12,157‌
284‌
Lincoln
Educational
Services (1)
2,779‌
64‌
Matthews
International,
Class
A 
2,837‌
68‌
Mister
Car
Wash (1)
9,306‌
56‌
Nerdy (1)(2)
6,995‌
11‌
OneSpaWorld
Holdings 
8,881‌
181‌
Perdoceo
Education 
5,762‌
188‌
Strategic
Education 
2,258‌
192‌
Stride (1)
4,004‌
581‌
Udemy (1)
9,114‌
64‌
Universal
Technical
Institute (1)
4,331‌
147‌
Zspace (1)
182‌
1‌
3,463‌
Hotels,
Restaurants
&
Leisure
 2.3%
Accel
Entertainment (1)
4,831‌
57‌
Bally's (1)
697‌
7‌
Biglari
Holdings,
Class
B (1)
66‌
19‌
BJ's
Restaurants (1)
2,011‌
90‌
Bloomin'
Brands 
7,880‌
68‌
Brinker
International (1)
4,151‌
749‌
Cheesecake
Factory (2)
4,331‌
271‌
Cracker
Barrel
Old
Country
Store 
2,084‌
127‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
12
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Dave
&
Buster's
Entertainment (1)
2,542‌
76‌
Denny's (1)
4,258‌
17‌
Dine
Brands
Global 
1,373‌
33‌
El
Pollo
Loco
Holdings (1)
2,341‌
26‌
Everi
Holdings (1)
7,918‌
113‌
First
Watch
Restaurant
Group (1)
3,831‌
61‌
Genius
Sports (1)
20,761‌
216‌
Global
Business
Travel
Group
I (1)
8,830‌
56‌
Golden
Entertainment 
1,744‌
51‌
Hilton
Grand
Vacations (1)
5,736‌
238‌
Inspired
Entertainment (1)
2,352‌
19‌
International
Game
Technology 
10,529‌
167‌
Jack
in
the
Box (2)
1,727‌
30‌
Krispy
Kreme (2)
7,459‌
22‌
Kura
Sushi
USA,
Class
A (1)
617‌
53‌
Life
Time
Group
Holdings (1)
12,725‌
386‌
Lindblad
Expeditions
Holdings (1)
3,550‌
41‌
Marriott
Vacations
Worldwide 
2,998‌
217‌
Monarch
Casino
&
Resort 
1,209‌
105‌
Nathan's
Famous 
254‌
28‌
Papa
John's
International 
3,102‌
152‌
PlayAGS (1)
3,598‌
45‌
Portillo's,
Class
A (1)
5,295‌
62‌
Potbelly (1)
2,492‌
31‌
Pursuit
Attractions
and
Hospitality (1)
1,991‌
57‌
RCI
Hospitality
Holdings 
723‌
28‌
Red
Rock
Resorts,
Class
A 
4,541‌
236‌
Rush
Street
Interactive (1)
8,320‌
124‌
Sabre (1)
34,922‌
110‌
Serve
Robotics (1)(2)
4,398‌
50‌
Shake
Shack,
Class
A (1)
3,644‌
512‌
Six
Flags
Entertainment 
8,994‌
274‌
Super
Group
SGHC 
14,934‌
164‌
Sweetgreen,
Class
A (1)
9,707‌
144‌
Target
Hospitality (1)
2,786‌
20‌
United
Parks
&
Resorts (1)(2)
2,542‌
120‌
Xponential
Fitness,
Class
A (1)
2,228‌
17‌
5,489‌
Household
Durables
 1.7%
Bassett
Furniture
Industries 
770‌
12‌
Beazer
Homes
USA (1)
2,634‌
59‌
Cavco
Industries (1)
714‌
310‌
Century
Communities 
2,568‌
145‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
13
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Champion
Homes (1)
5,065‌
317‌
Cricut,
Class
A 
4,230‌
29‌
Dream
Finders
Homes,
Class
A (1)(2)
2,833‌
71‌
Ethan
Allen
Interiors 
2,180‌
61‌
Flexsteel
Industries (2)
398‌
14‌
Green
Brick
Partners (1)
2,968‌
187‌
Hamilton
Beach
Brands
Holding,
Class
A 
784‌
14‌
Helen
of
Troy (1)
2,150‌
61‌
Hovnanian
Enterprises,
Class
A (1)
441‌
46‌
Installed
Building
Products 
2,207‌
398‌
KB
Home 
6,559‌
347‌
La-Z-Boy 
3,871‌
144‌
Legacy
Housing (1)
1,009‌
23‌
Leggett
&
Platt 
12,507‌
111‌
LGI
Homes (1)
1,952‌
100‌
Lovesac (1)
1,243‌
23‌
M/I
Homes (1)
2,486‌
279‌
Meritage
Homes 
6,683‌
447‌
Sonos (1)
11,241‌
121‌
Taylor
Morrison
Home (1)
9,241‌
568‌
Traeger (1)
2,404‌
4‌
Tri
Pointe
Homes (1)
8,377‌
268‌
4,159‌
Leisure
Products
 0.4%
Acushnet
Holdings 
2,643‌
192‌
American
Outdoor
Brands (1)
1,159‌
12‌
Clarus 
2,343‌
8‌
Escalade 
964‌
13‌
Funko,
Class
A (1)
3,275‌
16‌
JAKKS
Pacific 
733‌
15‌
Johnson
Outdoors,
Class
A 
460‌
14‌
Latham
Group (1)
4,223‌
27‌
Malibu
Boats,
Class
A (1)
1,777‌
56‌
Marine
Products (2)
907‌
8‌
MasterCraft
Boat
Holdings (1)(2)
1,468‌
27‌
Outdoor
Holding (1)(2)
8,205‌
11‌
Peloton
Interactive,
Class
A (1)
34,560‌
240‌
Polaris 
4,999‌
203‌
Smith
&
Wesson
Brands 
3,968‌
34‌
Sturm
Ruger 
1,482‌
53‌
Topgolf
Callaway
Brands (1)
12,871‌
104‌
1,033‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
14
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Specialty
Retail
 2.2%
1-800-Flowers.com,
Class
A (1)(2)
2,043‌
10‌
Abercrombie
&
Fitch,
Class
A (1)
4,414‌
366‌
Academy
Sports
&
Outdoors 
6,258‌
280‌
Advance
Auto
Parts 
5,627‌
262‌
American
Eagle
Outfitters 
15,213‌
146‌
America's
Car-Mart (1)
652‌
36‌
Arhaus (1)
4,696‌
41‌
Arko 
7,318‌
31‌
Asbury
Automotive
Group (1)
1,830‌
436‌
BARK (1)
12,010‌
10‌
Barnes
&
Noble
Education (1)
1,410‌
17‌
Beyond (1)
5,166‌
35‌
Boot
Barn
Holdings (1)
2,885‌
438‌
Buckle 
2,963‌
134‌
Build-A-Bear
Workshop 
1,125‌
58‌
Caleres (2)
2,947‌
36‌
Camping
World
Holdings,
Class
A 
5,651‌
97‌
Citi
Trends (1)
556‌
19‌
Designer
Brands,
Class
A 
2,821‌
7‌
Envela (1)
639‌
4‌
EVgo (1)
12,032‌
44‌
Foot
Locker (1)
8,024‌
197‌
Genesco (1)
899‌
18‌
Group
1
Automotive 
1,181‌
516‌
Haverty
Furniture 
1,330‌
27‌
J
Jill 
520‌
8‌
Lands'
End (1)
1,324‌
14‌
MarineMax (1)
1,772‌
44‌
Monro 
2,702‌
40‌
National
Vision
Holdings (1)
7,248‌
167‌
ODP (1)
2,681‌
49‌
OneWater
Marine,
Class
A (1)(2)
1,032‌
14‌
Petco
Health
&
Wellness (1)
7,104‌
20‌
RealReal (1)(2)
9,096‌
44‌
Revolve
Group (1)
3,668‌
73‌
Sally
Beauty
Holdings (1)
9,710‌
90‌
Shoe
Carnival 
1,644‌
31‌
Signet
Jewelers 
3,915‌
311‌
Sleep
Number (1)(2)
1,819‌
12‌
Sonic
Automotive,
Class
A 
1,385‌
111‌
Stitch
Fix,
Class
A (1)
9,205‌
34‌
ThredUp,
Class
A (1)
8,534‌
64‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
15
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Tile
Shop
Holdings (1)
2,633‌
17‌
Torrid
Holdings (1)(2)
1,869‌
5‌
Upbound
Group 
5,005‌
126‌
Urban
Outfitters (1)
5,897‌
428‌
Victoria's
Secret (1)
6,407‌
119‌
Warby
Parker,
Class
A (1)
9,209‌
202‌
Winmark 
279‌
105‌
Zumiez (1)
1,427‌
19‌
5,412‌
Textiles,
Apparel
&
Luxury
Goods
 0.6%
Capri
Holdings (1)
10,910‌
193‌
Carter's 
3,339‌
101‌
Ermenegildo
Zegna 
5,799‌
50‌
Figs,
Class
A (1)
8,266‌
47‌
G-III
Apparel
Group (1)
3,725‌
83‌
Hanesbrands (1)
32,780‌
150‌
Kontoor
Brands 
5,130‌
338‌
Lakeland
Industries 
864‌
12‌
Movado
Group 
1,357‌
21‌
Oxford
Industries 
1,329‌
53‌
Rocky
Brands 
650‌
14‌
Steven
Madden 
6,622‌
159‌
Superior
Group 
1,119‌
11‌
Wolverine
World
Wide 
7,404‌
134‌
1,366‌
Total
Consumer
Discretionary
24,259‌
CONSUMER
STAPLES
 2.2%
Beverages
 0.1%
MGP
Ingredients 
1,299‌
39‌
National
Beverage (1)
2,249‌
97‌
Vita
Coco (1)
3,768‌
136‌
Zevia
PBC,
Class
A (1)
2,981‌
10‌
282‌
Consumer
Staples
Distribution
&
Retail
 0.5%
Andersons 
3,055‌
112‌
Chefs'
Warehouse (1)
3,419‌
218‌
Grocery
Outlet
Holding (1)
8,885‌
110‌
Guardian
Pharmacy
Services,
Class
A (1)
1,199‌
26‌
HF
Foods
Group (1)
3,444‌
11‌
Ingles
Markets,
Class
A 
1,374‌
87‌
Natural
Grocers
by
Vitamin
Cottage 
1,198‌
47‌
PriceSmart 
2,406‌
253‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
16
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
SpartanNash 
3,213‌
85‌
United
Natural
Foods (1)
5,621‌
131‌
Village
Super
Market,
Class
A 
859‌
33‌
Weis
Markets 
1,537‌
112‌
1,225‌
Food
Products
 0.9%
Alico 
495‌
16‌
B&G
Foods (2)
7,042‌
30‌
Beyond
Meat (1)(2)
6,926‌
24‌
BRC,
Class
A (1)(2)
4,630‌
6‌
Calavo
Growers 
1,527‌
41‌
Cal-Maine
Foods 
4,306‌
429‌
Dole 
6,205‌
87‌
Forafric
Global (1)
365‌
3‌
Fresh
Del
Monte
Produce 
3,068‌
99‌
Hain
Celestial
Group (1)
7,761‌
12‌
J
&
J
Snack
Foods 
1,455‌
165‌
John
B.
Sanfilippo
&
Son 
725‌
46‌
Lancaster
Colony 
1,883‌
325‌
Lifeway
Foods (1)
484‌
12‌
Limoneira 
1,498‌
23‌
Mama's
Creations (1)
2,904‌
24‌
Mission
Produce (1)
4,525‌
53‌
Seneca
Foods,
Class
A (1)
416‌
42‌
Simply
Good
Foods (1)
8,792‌
278‌
SunOpta (1)
8,510‌
49‌
Tootsie
Roll
Industries 
1,650‌
55‌
TreeHouse
Foods (1)
4,715‌
92‌
Utz
Brands 
6,790‌
85‌
Vital
Farms (1)
3,247‌
125‌
Westrock
Coffee (1)(2)
3,068‌
18‌
WK
Kellogg (2)
6,136‌
98‌
2,237‌
Household
Products
 0.3%
Central
Garden
&
Pet (1)
855‌
30‌
Central
Garden
&
Pet,
Class
A (1)
4,752‌
149‌
Energizer
Holdings 
6,201‌
125‌
Oil-Dri 
893‌
53‌
Spectrum
Brands
Holdings 
2,397‌
127‌
WD-40 
1,270‌
289‌
773‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
17
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Personal
Care
Products
 0.3%
Beauty
Health (1)
10,758‌
20‌
Edgewell
Personal
Care 
4,478‌
105‌
FitLife
Brands (1)
373‌
5‌
Herbalife (1)
9,627‌
83‌
Honest (1)
8,766‌
45‌
Interparfums 
1,718‌
226‌
Lifevantage 
998‌
13‌
Medifast (1)
939‌
13‌
Nature's
Sunshine
Products (1)
1,374‌
20‌
Nu
Skin
Enterprises,
Class
A 
4,870‌
39‌
Olaplex
Holdings (1)(2)
12,290‌
17‌
USANA
Health
Sciences (1)
1,031‌
31‌
Waldencast,
Class
A (1)
4,002‌
10‌
627‌
Tobacco
 0.1%
Ispire
Technology (1)(2)
1,380‌
4‌
Turning
Point
Brands 
1,566‌
119‌
Universal 
2,241‌
130‌
253‌
Total
Consumer
Staples
5,397‌
ENERGY
 4.8%
Energy
Equipment
&
Services
 1.7%
Archrock 
15,538‌
386‌
Aris
Water
Solutions,
Class
A 
2,897‌
68‌
Atlas
Energy
Solutions (2)
7,280‌
97‌
Borr
Drilling (2)
21,627‌
40‌
Bristow
Group (1)
2,669‌
88‌
Cactus,
Class
A 
6,427‌
281‌
ChampionX 
17,984‌
447‌
Core
Laboratories 
4,219‌
49‌
DMC
Global (1)
1,856‌
15‌
Energy
Services
of
America 
1,117‌
11‌
Expro
Group
Holdings (1)
9,684‌
83‌
Flowco
Holdings,
Class
A 
1,795‌
32‌
Forum
Energy
Technologies (1)
1,004‌
19‌
Helix
Energy
Solutions
Group (1)
13,069‌
82‌
Helmerich
&
Payne 
9,109‌
138‌
Innovex
International (1)
3,638‌
57‌
Kodiak
Gas
Services 
5,058‌
173‌
Liberty
Energy 
14,645‌
168‌
Mammoth
Energy
Services (1)
2,352‌
7‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
18
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Nabors
Industries (1)(2)
1,327‌
37‌
National
Energy
Services
Reunited (1)
5,728‌
34‌
Natural
Gas
Services
Group (1)
980‌
25‌
Noble 
11,831‌
314‌
Oceaneering
International (1)
8,801‌
182‌
Oil
States
International (1)
5,347‌
29‌
Patterson-UTI
Energy 
33,077‌
196‌
ProFrac
Holding,
Class
A (1)
1,137‌
9‌
ProPetro
Holding (1)
7,817‌
47‌
Ranger
Energy
Services,
Class
A 
1,613‌
19‌
RPC 
7,793‌
37‌
SEACOR
Marine
Holdings (1)
2,229‌
11‌
Seadrill (1)
6,071‌
159‌
Select
Water
Solutions 
8,714‌
75‌
Solaris
Energy
Infrastructure 
3,420‌
97‌
TETRA
Technologies (1)
11,577‌
39‌
Tidewater (1)
4,740‌
219‌
Transocean (1)
69,856‌
181‌
Valaris (1)
5,974‌
252‌
4,203‌
Oil,
Gas
&
Consumable
Fuels
 3.1%
Ardmore
Shipping 
3,217‌
31‌
Berry 
6,413‌
18‌
BKV (1)
1,574‌
38‌
California
Resources 
6,120‌
279‌
Calumet (1)
6,467‌
102‌
Centrus
Energy,
Class
A (1)(2)
1,386‌
254‌
Clean
Energy
Fuels (1)
15,528‌
30‌
CNX
Resources (1)
13,345‌
449‌
Comstock
Resources (1)
6,937‌
192‌
Core
Natural
Resources 
4,960‌
346‌
Crescent
Energy,
Class
A 
16,774‌
144‌
CVR
Energy 
2,893‌
78‌
Delek
U.S.
Holdings 
5,908‌
125‌
DHT
Holdings 
11,930‌
129‌
Diversified
Energy (2)
5,158‌
76‌
Dorian
LPG 
3,463‌
84‌
Empire
Petroleum (1)(2)
1,272‌
7‌
Encore
Energy (1)
16,465‌
47‌
Energy
Fuels (1)(2)
19,527‌
112‌
Epsilon
Energy 
1,816‌
13‌
Evolution
Petroleum 
2,843‌
13‌
Excelerate
Energy,
Class
A 
2,161‌
63‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
19
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
FLEX
LNG 
2,935‌
65‌
FutureFuel 
2,509‌
10‌
Gevo (1)
21,746‌
29‌
Golar
LNG 
9,369‌
386‌
Granite
Ridge
Resources 
4,677‌
30‌
Green
Plains (1)
5,802‌
35‌
Gulfport
Energy (1)
1,428‌
287‌
HighPeak
Energy (2)
1,723‌
17‌
Infinity
Natural
Resources,
Class
A (1)
1,379‌
25‌
International
Seaways 
3,768‌
137‌
Kinetik
Holdings 
4,154‌
183‌
Kolibri
Global
Energy (1)
3,317‌
23‌
Kosmos
Energy (1)
44,536‌
77‌
Lightbridge (1)(2)
1,762‌
24‌
Magnolia
Oil
&
Gas,
Class
A 
17,464‌
393‌
Murphy
Oil 
12,663‌
285‌
NACCO
Industries,
Class
A 
397‌
18‌
Navigator
Holdings 
3,069‌
43‌
New
Fortress
Energy 
15,885‌
53‌
NextDecade (1)
12,544‌
112‌
NextNRG (1)
1,675‌
5‌
Nordic
American
Tankers (2)
18,553‌
49‌
Northern
Oil
&
Gas 
8,655‌
245‌
OPAL
Fuels,
Class
A (1)
2,014‌
5‌
Par
Pacific
Holdings (1)
5,121‌
136‌
PBF
Energy,
Class
A 
7,849‌
170‌
Peabody
Energy 
11,340‌
152‌
Prairie
Operating (1)
2,049‌
6‌
PrimeEnergy
Resources (1)
64‌
9‌
REX
American
Resources (1)
1,395‌
68‌
Riley
Exploration
Permian 
1,233‌
32‌
Sable
Offshore (1)
6,412‌
141‌
SandRidge
Energy 
3,191‌
35‌
Scorpio
Tankers 
4,130‌
162‌
SFL 
11,855‌
99‌
Sitio
Royalties,
Class
A 
7,401‌
136‌
SM
Energy 
10,699‌
264‌
Summit
Midstream (1)
930‌
23‌
Talos
Energy (1)
11,265‌
96‌
Teekay 
5,002‌
41‌
Teekay
Tankers,
Class
A 
2,252‌
94‌
Uranium
Energy (1)
39,899‌
271‌
VAALCO
Energy 
9,554‌
34‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
20
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Verde
Clean
Fuels (1)(2)
210‌
1‌
Vital
Energy (1)
2,798‌
45‌
Vitesse
Energy 
2,766‌
61‌
W&T
Offshore (2)
8,549‌
14‌
World
Kinect 
5,309‌
150‌
7,406‌
Total
Energy
11,609‌
FINANCIALS
 18.9%
Banks
 10.4%
1st
Source 
1,790‌
111‌
ACNB 
967‌
41‌
Amalgamated
Financial 
2,198‌
69‌
Amerant
Bancorp 
3,340‌
61‌
Ameris
Bancorp 
6,203‌
401‌
Ames
National 
809‌
14‌
Arrow
Financial 
1,501‌
40‌
Associated
Banc-Corp 
15,599‌
380‌
Atlantic
Union
Bankshares 
13,367‌
418‌
Axos
Financial (1)
4,880‌
371‌
Banc
of
California 
12,859‌
181‌
BancFirst 
1,958‌
242‌
Bancorp (1)
4,274‌
243‌
Bank
First (2)
880‌
104‌
Bank
of
Hawaii 
3,693‌
249‌
Bank
of
Marin
Bancorp 
1,402‌
32‌
Bank
of
NT
Butterfield
&
Son 
4,111‌
182‌
Bank7 
350‌
15‌
BankFinancial 
1,053‌
12‌
BankUnited 
7,077‌
252‌
Bankwell
Financial
Group 
665‌
24‌
Banner 
3,170‌
203‌
Bar
Harbor
Bankshares 
1,368‌
41‌
BayCom 
949‌
26‌
BCB
Bancorp 
1,402‌
12‌
Berkshire
Hills
Bancorp 
4,359‌
109‌
Blue
Foundry
Bancorp (1)
1,797‌
17‌
Blue
Ridge
Bankshares (1)
6,045‌
22‌
Bridgewater
Bancshares (1)
1,791‌
28‌
Brookline
Bancorp 
8,394‌
89‌
Burke
&
Herbert
Financial
Services 
1,222‌
73‌
Business
First
Bancshares 
2,672‌
66‌
BV
Financial (1)
818‌
12‌
Byline
Bancorp 
2,550‌
68‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
21
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
C&F
Financial 
288‌
18‌
Cadence
Bank 
16,431‌
525‌
California
Bancorp (1)
2,236‌
35‌
Camden
National 
1,506‌
61‌
Capital
Bancorp 
1,100‌
37‌
Capital
City
Bank
Group 
1,247‌
49‌
Capitol
Federal
Financial 
11,203‌
68‌
Carter
Bankshares (1)
2,061‌
36‌
Cathay
General
Bancorp 
6,334‌
288‌
CB
Financial
Services 
441‌
13‌
Central
Pacific
Financial 
2,408‌
67‌
CF
Bankshares 
364‌
9‌
Chain
Bridge
Bancorp,
Class
A (1)
223‌
6‌
Chemung
Financial 
392‌
19‌
ChoiceOne
Financial
Services 
1,344‌
39‌
Citizens
&
Northern 
1,297‌
25‌
Citizens
Community
Bancorp 
906‌
12‌
Citizens
Financial
Services 
387‌
23‌
City
Holding 
1,345‌
165‌
Civista
Bancshares 
1,340‌
31‌
CNB
Financial 
1,886‌
43‌
Coastal
Financial (1)
1,210‌
117‌
Colony
Bankcorp 
1,539‌
25‌
Columbia
Financial (1)
2,501‌
36‌
Community
Financial
System 
4,964‌
282‌
Community
Trust
Bancorp 
1,498‌
79‌
Community
West
Bancshares 
1,537‌
30‌
ConnectOne
Bancorp 
4,471‌
104‌
Customers
Bancorp (1)
2,754‌
162‌
CVB
Financial 
12,396‌
245‌
Dime
Community
Bancshares 
3,739‌
101‌
Eagle
Bancorp 
2,660‌
52‌
Eagle
Bancorp
Montana 
700‌
12‌
Eagle
Financial
Services 
434‌
13‌
Eastern
Bankshares 
18,436‌
282‌
ECB
Bancorp (1)
727‌
11‌
Enterprise
Bancorp 
977‌
39‌
Enterprise
Financial
Services 
3,440‌
190‌
Equity
Bancshares,
Class
A 
1,470‌
60‌
Esquire
Financial
Holdings 
645‌
61‌
ESSA
Bancorp 
804‌
16‌
Farmers
&
Merchants
Bancorp 
1,094‌
28‌
Farmers
National
Banc 
3,330‌
46‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
22
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
FB
Bancorp (1)
1,679‌
19‌
FB
Financial 
3,301‌
150‌
Fidelity
D&D
Bancorp 
451‌
21‌
Financial
Institutions 
1,865‌
48‌
Finward
Bancorp 
325‌
9‌
Finwise
Bancorp (1)
856‌
13‌
First
Bancorp 
931‌
24‌
First
Bancorp
North
Carolina 
3,785‌
167‌
First
BanCorp
Puerto
Rico 
15,096‌
314‌
First
Bank
New
Jersey 
1,838‌
28‌
First
Busey 
8,028‌
184‌
First
Business
Financial
Services 
718‌
36‌
First
Capital 
308‌
13‌
First
Commonwealth
Financial 
9,394‌
152‌
First
Community 
697‌
17‌
First
Community
Bankshares 
1,523‌
60‌
First
Financial 
1,035‌
56‌
First
Financial
Bancorp 
8,940‌
217‌
First
Financial
Bankshares 
12,612‌
454‌
First
Financial
Northwest (1)(3)
667‌
—‌
First
Foundation 
5,759‌
29‌
First
Internet
Bancorp 
741‌
20‌
First
Interstate
BancSystem,
Class
A 
8,255‌
238‌
First
Merchants 
5,470‌
209‌
First
Mid
Bancshares 
1,938‌
73‌
First
National 
735‌
14‌
First
Savings
Financial
Group 
523‌
13‌
First
United 
567‌
18‌
First
Western
Financial (1)
716‌
16‌
Firstsun
Capital
Bancorp (1)
1,184‌
41‌
Five
Star
Bancorp 
1,527‌
44‌
Flagstar
Financial 
28,483‌
302‌
Flushing
Financial 
2,893‌
34‌
Franklin
Financial
Services 
396‌
14‌
FS
Bancorp 
512‌
20‌
Fulton
Financial 
17,114‌
309‌
FVCBankcorp (1)
1,438‌
17‌
GBank
Financial
Holdings (1)
846‌
30‌
German
American
Bancorp 
3,401‌
131‌
Glacier
Bancorp 
10,717‌
462‌
Great
Southern
Bancorp 
781‌
46‌
Greene
County
Bancorp 
606‌
13‌
Guaranty
Bancshares 
842‌
36‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
23
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Hancock
Whitney 
8,071‌
463‌
Hanmi
Financial 
2,704‌
67‌
Hanover
Bancorp 
448‌
10‌
HarborOne
Bancorp 
2,787‌
33‌
Hawthorn
Bancshares 
548‌
16‌
HBT
Financial 
1,117‌
28‌
Heritage
Commerce 
5,428‌
54‌
Heritage
Financial 
3,227‌
77‌
Hilltop
Holdings 
4,341‌
132‌
Hingham
Institution
For
Savings 
143‌
36‌
Home
Bancorp 
611‌
32‌
Home
BancShares 
17,660‌
503‌
HomeStreet (1)
1,658‌
22‌
HomeTrust
Bancshares 
1,503‌
56‌
Hope
Bancorp 
11,377‌
122‌
Horizon
Bancorp 
4,122‌
63‌
Independent
Bank,
(MA) 
4,009‌
252‌
Independent
Bank,
(MI) 
1,898‌
62‌
International
Bancshares 
5,112‌
340‌
Investar
Holding 
843‌
16‌
John
Marshall
Bancorp 
946‌
18‌
Kearny
Financial 
4,950‌
32‌
Lakeland
Financial 
2,402‌
148‌
Landmark
Bancorp 
428‌
11‌
LCNB 
1,189‌
17‌
LINKBANCORP 
2,102‌
15‌
Live
Oak
Bancshares 
3,316‌
99‌
MainStreet
Bancshares (2)
663‌
13‌
Mercantile
Bank 
1,442‌
67‌
Meridian 
857‌
11‌
Metrocity
Bankshares 
1,836‌
52‌
Metropolitan
Bank
Holding (1)
959‌
67‌
Mid
Penn
Bancorp 
1,895‌
53‌
Middlefield
Banc 
630‌
19‌
Midland
States
Bancorp 
1,891‌
33‌
MidWestOne
Financial
Group 
1,925‌
55‌
MVB
Financial 
1,082‌
24‌
National
Bank
Holdings,
Class
A 
3,554‌
134‌
National
Bankshares 
540‌
15‌
NB
Bancorp (1)
3,502‌
63‌
NBT
Bancorp 
4,800‌
199‌
Nicolet
Bankshares 
1,271‌
157‌
Northeast
Bank 
671‌
60‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
24
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Northeast
Community
Bancorp 
1,116‌
26‌
Northfield
Bancorp 
3,484‌
40‌
Northpointe
Bancshares 
995‌
14‌
Northrim
BanCorp 
510‌
48‌
Northwest
Bancshares 
11,833‌
151‌
Norwood
Financial 
755‌
19‌
Oak
Valley
Bancorp 
592‌
16‌
OceanFirst
Financial 
5,253‌
92‌
OFG
Bancorp 
4,247‌
182‌
Ohio
Valley
Banc 
358‌
12‌
Old
National
Bancorp 
30,044‌
641‌
Old
Point
Financial 
377‌
15‌
Old
Second
Bancorp 
4,171‌
74‌
OP
Bancorp 
1,110‌
14‌
Orange
County
Bancorp 
907‌
23‌
Origin
Bancorp 
2,789‌
100‌
Orrstown
Financial
Services 
1,691‌
54‌
Pacific
Premier
Bancorp 
9,005‌
190‌
Park
National 
1,390‌
232‌
Parke
Bancorp 
960‌
20‌
Pathward
Financial 
2,235‌
177‌
Patriot
National
Bancorp (1)
4,180‌
6‌
PCB
Bancorp 
1,010‌
21‌
Peapack-Gladstone
Financial 
1,529‌
43‌
Penns
Woods
Bancorp 
694‌
21‌
Peoples
Bancorp 
3,270‌
100‌
Peoples
Bancorp
of
North
Carolina 
410‌
12‌
Peoples
Financial
Services 
842‌
42‌
Pioneer
Bancorp (1)
1,079‌
13‌
Plumas
Bancorp 
514‌
23‌
Ponce
Financial
Group (1)
952‌
13‌
Preferred
Bank 
1,167‌
101‌
Primis
Financial 
1,861‌
20‌
Princeton
Bancorp 
464‌
14‌
Provident
Bancorp (1)
1,457‌
18‌
Provident
Financial
Services 
12,076‌
212‌
QCR
Holdings 
1,550‌
105‌
RBB
Bancorp 
1,476‌
25‌
Red
River
Bancshares 
443‌
26‌
Renasant 
8,839‌
318‌
Republic
Bancorp,
Class
A 
754‌
55‌
Rhinebeck
Bancorp (1)
430‌
5‌
Richmond
Mutual
BanCorp 
859‌
12‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
25
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Riverview
Bancorp 
1,930‌
11‌
S&T
Bancorp 
3,549‌
134‌
SB
Financial
Group 
561‌
11‌
Seacoast
Banking 
7,973‌
220‌
ServisFirst
Bancshares 
4,836‌
375‌
Shore
Bancshares 
2,807‌
44‌
Sierra
Bancorp 
1,182‌
35‌
Simmons
First
National,
Class
A 
11,771‌
223‌
SmartFinancial 
1,442‌
49‌
Sound
Financial
Bancorp 
202‌
9‌
South
Plains
Financial 
1,207‌
43‌
Southern
First
Bancshares (1)
698‌
27‌
Southern
Missouri
Bancorp 
867‌
47‌
Southern
States
Bancshares 
755‌
27‌
Southside
Bancshares 
2,740‌
81‌
SR
Bancorp 
743‌
10‌
Stellar
Bancorp 
4,403‌
123‌
Sterling
Bancorp (1)(3)
2,133‌
—‌
Stock
Yards
Bancorp 
2,466‌
195‌
Texas
Capital
Bancshares (1)
4,321‌
343‌
Third
Coast
Bancshares (1)
1,208‌
39‌
Timberland
Bancorp 
707‌
22‌
Tompkins
Financial 
1,264‌
79‌
Towne
Bank 
6,627‌
227‌
TriCo
Bancshares 
2,865‌
116‌
Triumph
Financial (1)
2,061‌
114‌
TrustCo
Bank 
1,667‌
56‌
Trustmark 
5,319‌
194‌
UMB
Financial 
6,812‌
716‌
Union
Bankshares 
344‌
9‌
United
Bankshares 
13,270‌
483‌
United
Community
Banks 
11,296‌
337‌
United
Security
Bancshares 
1,307‌
11‌
Unity
Bancorp 
633‌
30‌
Univest
Financial 
2,756‌
83‌
USCB
Financial
Holdings 
969‌
16‌
Valley
National
Bancorp 
45,471‌
406‌
Veritex
Holdings 
4,901‌
128‌
Virginia
National
Bankshares 
407‌
15‌
WaFd 
7,453‌
218‌
Washington
Trust
Bancorp 
1,742‌
49‌
WesBanco 
8,876‌
281‌
West
BanCorp 
1,459‌
29‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
26
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Westamerica
BanCorp 
2,397‌
116‌
Western
New
England
Bancorp 
1,732‌
16‌
WSFS
Financial 
5,458‌
300‌
25,067‌
Capital
Markets
 1.7%
Acadian
Asset
Management 
2,578‌
91‌
AlTi
Global (1)(2)
3,331‌
14‌
Artisan
Partners
Asset
Management,
Class
A 
5,803‌
257‌
Bakkt
Holdings (1)(2)
488‌
7‌
BGC
Group,
Class
A 
33,592‌
344‌
Cohen
&
Steers 
2,601‌
196‌
Diamond
Hill
Investment
Group 
256‌
37‌
DigitalBridge
Group 
16,066‌
166‌
Donnelley
Financial
Solutions (1)
2,491‌
154‌
Forge
Global
Holdings (1)(2)
961‌
18‌
GCM
Grosvenor,
Class
A 
4,157‌
48‌
Marex
Group 
2,984‌
118‌
MarketWise (2)
84‌
2‌
Moelis,
Class
A 
6,967‌
434‌
Open
Lending (1)
8,607‌
17‌
P10,
Class
A 
5,104‌
52‌
Patria
Investments,
Class
A 
5,640‌
79‌
Perella
Weinberg
Partners 
5,715‌
111‌
Piper
Sandler 
1,639‌
455‌
PJT
Partners,
Class
A 
2,170‌
358‌
Siebert
Financial (1)
1,344‌
6‌
Silvercrest
Asset
Management
Group,
Class
A 
911‌
14‌
StepStone
Group,
Class
A 
5,875‌
326‌
StoneX
Group (1)
4,236‌
386‌
Value
Line (2)
68‌
3‌
Victory
Capital
Holdings,
Class
A 
4,149‌
264‌
Virtus
Investment
Partners 
608‌
110‌
Westwood
Holdings
Group 
703‌
11‌
WisdomTree 
11,263‌
130‌
4,208‌
Consumer
Finance
 1.1%
Atlanticus
Holdings (1)
482‌
26‌
Bread
Financial
Holdings 
4,371‌
250‌
Consumer
Portfolio
Services (1)
660‌
6‌
Dave (1)
870‌
233‌
Encore
Capital
Group (1)
2,230‌
86‌
Enova
International (1)
2,291‌
255‌
FirstCash
Holdings 
3,714‌
502‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
27
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Green
Dot,
Class
A (1)
5,181‌
56‌
LendingClub (1)
10,618‌
128‌
LendingTree (1)
1,049‌
39‌
Medallion
Financial 
1,757‌
17‌
Navient 
6,601‌
93‌
Nelnet,
Class
A 
1,321‌
160‌
NerdWallet,
Class
A (1)
3,883‌
43‌
Oportun
Financial (1)
3,148‌
23‌
OppFi (2)
2,278‌
32‌
PRA
Group (1)
3,704‌
55‌
PROG
Holdings 
3,728‌
109‌
Regional
Management 
872‌
25‌
Upstart
Holdings (1)
7,891‌
510‌
Vroom (1)
103‌
3‌
World
Acceptance (1)
306‌
51‌
2,702‌
Financial
Services
 2.6%
Acacia
Research (1)
3,565‌
13‌
Alerus
Financial 
2,054‌
44‌
AvidXchange
Holdings (1)
16,148‌
158‌
Banco
Latinoamericano
de
Comercio
Exterior,
Class
E 
2,729‌
110‌
Better
Home
&
Finance
Holding (1)
468‌
6‌
Burford
Capital 
18,361‌
262‌
Cannae
Holdings 
5,403‌
113‌
Cantaloupe (1)
5,292‌
58‌
Cass
Information
Systems 
1,221‌
53‌
Compass
Diversified
Holdings 
5,943‌
37‌
Enact
Holdings 
2,716‌
101‌
Essent
Group 
9,314‌
566‌
EVERTEC 
6,032‌
217‌
Federal
Agricultural
Mortgage,
Class
C 
876‌
170‌
Finance
Of
America,
Class
A (1)
420‌
10‌
Flywire (1)
11,263‌
132‌
HA
Sustainable
Infrastructure
Capital 
11,471‌
308‌
International
Money
Express (1)
2,599‌
26‌
Jackson
Financial,
Class
A 
6,718‌
596‌
loanDepot,
Class
A (1)
7,717‌
10‌
Marqeta,
Class
A (1)
36,016‌
210‌
Merchants
Bancorp 
2,432‌
80‌
NCR
Atleos (1)
6,866‌
196‌
NewtekOne 
2,306‌
26‌
NMI
Holdings,
Class
A (1)
7,316‌
309‌
Onity
Group (1)
552‌
21‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
28
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Pagseguro
Digital,
Class
A 
17,073‌
165‌
Payoneer
Global (1)
26,109‌
179‌
Paysafe (1)
2,820‌
36‌
Paysign (1)
3,323‌
24‌
PennyMac
Financial
Services 
2,741‌
273‌
Priority
Technology
Holdings (1)
1,993‌
15‌
Radian
Group 
13,250‌
477‌
Remitly
Global (1)
14,535‌
273‌
Repay
Holdings (1)
7,593‌
37‌
Security
National
Financial,
Class
A (1)
1,388‌
14‌
Sezzle (1)
1,383‌
248‌
StoneCo,
Class
A (1)
22,713‌
364‌
SWK
Holdings 
287‌
4‌
Triller
Group (1)(2)
9,788‌
9‌
Velocity
Financial (1)
1,053‌
19‌
Walker
&
Dunlop 
3,090‌
218‌
Waterstone
Financial 
1,511‌
21‌
6,208‌
Insurance
 2.2%
Ambac
Financial
Group (1)
4,133‌
29‌
American
Coastal
Insurance,
Class
C 
2,113‌
23‌
AMERISAFE 
1,818‌
80‌
Baldwin
Insurance
Group (1)(2)
6,589‌
282‌
Bowhead
Specialty
Holdings (1)
1,426‌
54‌
Citizens (1)(2)
4,262‌
15‌
CNO
Financial
Group 
9,291‌
358‌
Crawford,
Class
A 
1,397‌
15‌
Donegal
Group,
Class
A 
1,399‌
28‌
eHealth (1)
2,718‌
12‌
Employers
Holdings 
2,310‌
109‌
Enstar
Group (1)
1,116‌
375‌
F&G
Annuities
&
Life 
1,998‌
64‌
Fidelis
Insurance
Holdings 
5,591‌
93‌
Genworth
Financial (1)
38,583‌
300‌
GoHealth,
Class
A (1)
368‌
2‌
Goosehead
Insurance,
Class
A 
2,236‌
236‌
Greenlight
Capital
Re,
Class
A (1)
2,483‌
36‌
Hamilton
Insurance
Group,
Class
B (1)
4,220‌
91‌
HCI
Group 
805‌
123‌
Heritage
Insurance
Holdings (1)
2,221‌
55‌
Hippo
Holdings (1)
1,772‌
49‌
Horace
Mann
Educators 
3,811‌
164‌
Investors
Title 
128‌
27‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
29
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
James
River
Group
Holdings 
3,137‌
18‌
Kestrel
Group (1)(2)
337‌
9‌
Kingstone (1)
1,041‌
16‌
Kingsway
Financial
Services (1)(2)
1,704‌
23‌
Lemonade (1)(2)
5,215‌
228‌
MBIA (1)
3,945‌
17‌
Mercury
General 
2,488‌
168‌
NI
Holdings (1)
703‌
9‌
Palomar
Holdings (1)
2,471‌
381‌
ProAssurance (1)
4,765‌
109‌
Root,
Class
A (1)
997‌
128‌
Safety
Insurance
Group 
1,372‌
109‌
Selective
Insurance
Group 
5,701‌
494‌
Selectquote (1)
12,230‌
29‌
SiriusPoint (1)
9,609‌
196‌
Skyward
Specialty
Insurance
Group (1)
3,428‌
198‌
Stewart
Information
Services 
2,606‌
170‌
Tiptree 
2,272‌
54‌
Trupanion (1)
3,477‌
192‌
United
Fire
Group 
1,883‌
54‌
Universal
Insurance
Holdings 
2,386‌
66‌
5,288‌
Mortgage
Real
Estate
Investment
Trusts
 0.9%
ACRES
Commercial
Realty,
REIT (1)
582‌
10‌
Advanced
Flower
Capital,
REIT 
1,694‌
8‌
AG
Mortgage
Investment
Trust,
REIT 
2,491‌
19‌
Angel
Oak
Mortgage
REIT,
REIT 
1,174‌
11‌
Apollo
Commercial
Real
Estate
Finance,
REIT 
12,922‌
125‌
Arbor
Realty
Trust,
REIT 
17,891‌
191‌
Ares
Commercial
Real
Estate,
REIT (2)
4,876‌
23‌
ARMOUR
Residential
REIT,
REIT 
7,735‌
130‌
Blackstone
Mortgage
Trust,
Class
A,
REIT 
15,237‌
293‌
BrightSpire
Capital,
REIT 
11,635‌
59‌
Chicago
Atlantic
Real
Estate
Finance,
REIT (2)
1,580‌
22‌
Chimera
Investment,
REIT 
7,312‌
101‌
Claros
Mortgage
Trust,
REIT 
7,822‌
22‌
Dynex
Capital,
REIT 
9,887‌
121‌
Ellington
Financial,
REIT 
8,659‌
112‌
Franklin
BSP
Realty
Trust,
REIT 
7,726‌
83‌
Great
Ajax,
REIT 
3,978‌
11‌
Invesco
Mortgage
Capital,
REIT (2)
6,189‌
49‌
KKR
Real
Estate
Finance
Trust,
REIT 
5,343‌
47‌
Ladder
Capital,
REIT 
10,615‌
114‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
30
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Lument
Finance
Trust,
REIT (2)
4,314‌
10‌
MFA
Financial,
REIT 
9,660‌
91‌
New
York
Mortgage
Trust,
REIT 
8,265‌
55‌
Nexpoint
Real
Estate
Finance,
REIT 
728‌
10‌
Orchid
Island
Capital,
REIT (2)
10,114‌
71‌
PennyMac
Mortgage
Investment
Trust,
REIT 
8,183‌
105‌
Ready
Capital,
REIT (2)
15,634‌
68‌
Redwood
Trust,
REIT 
12,469‌
74‌
Seven
Hills
Realty
Trust,
REIT 
1,371‌
17‌
Sunrise
Realty
Trust,
REIT 
875‌
9‌
TPG
RE
Finance
Trust,
REIT 
6,431‌
50‌
Two
Harbors
Investment,
REIT 
9,703‌
105‌
2,216‌
Total
Financials
45,689‌
HEALTH
CARE
 15.9%
Biotechnology
 7.1%
4D
Molecular
Therapeutics (1)
3,736‌
14‌
89bio (1)
11,701‌
115‌
Abeona
Therapeutics (1)
4,107‌
23‌
Absci (1)(2)
10,256‌
26‌
ACADIA
Pharmaceuticals (1)
11,663‌
252‌
Actuate
Therapeutics (1)(2)
567‌
3‌
ADC
Therapeutics (1)
7,206‌
19‌
ADMA
Biologics (1)
21,722‌
396‌
Aduro
Biotech,
Rights,
12/31/49 (1)(3)
35‌
—‌
Agios
Pharmaceuticals (1)
5,242‌
174‌
Akebia
Therapeutics (1)
23,443‌
85‌
Akero
Therapeutics (1)
6,543‌
349‌
Aldeyra
Therapeutics (1)
4,375‌
17‌
Alector (1)
6,956‌
10‌
Alkermes (1)
15,202‌
435‌
Allogene
Therapeutics (1)(2)
14,278‌
16‌
Altimmune (1)(2)
6,527‌
25‌
Amicus
Therapeutics (1)
26,055‌
149‌
AnaptysBio (1)(2)
1,986‌
44‌
Anavex
Life
Sciences (1)(2)
7,840‌
72‌
Anika
Therapeutics (1)
1,164‌
12‌
Annexon (1)
8,836‌
21‌
Apogee
Therapeutics (1)
2,986‌
130‌
Arbutus
Biopharma (1)
13,355‌
41‌
Arcellx (1)
3,427‌
226‌
Arcturus
Therapeutics
Holdings (1)
2,377‌
31‌
Arcus
Biosciences (1)
6,468‌
53‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
31
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Arcutis
Biotherapeutics (1)
10,006‌
140‌
Ardelyx (1)
21,473‌
84‌
ArriVent
Biopharma (1)
2,151‌
47‌
Arrowhead
Pharmaceuticals (1)
11,306‌
179‌
ARS
Pharmaceuticals (1)
5,142‌
90‌
Astria
Therapeutics (1)
4,186‌
22‌
aTyr
Pharma (1)
8,165‌
41‌
Aura
Biosciences (1)
4,113‌
26‌
Aurinia
Pharmaceuticals (1)
11,016‌
93‌
Avidity
Biosciences (1)
10,723‌
305‌
Avita
Medical (1)(2)
2,362‌
13‌
Beam
Therapeutics (1)
8,962‌
152‌
Benitec
Biopharma (1)
1,363‌
16‌
Bicara
Therapeutics (1)
3,215‌
30‌
BioCryst
Pharmaceuticals (1)
19,362‌
173‌
Biohaven (1)
8,481‌
120‌
Blueprint
Medicines (1)
5,998‌
769‌
Bridgebio
Pharma (1)
14,650‌
633‌
Bright
Minds
Biosciences (1)
435‌
11‌
Candel
Therapeutics (1)
3,703‌
19‌
Capricor
Therapeutics (1)(2)
3,361‌
33‌
Cardiff
Oncology (1)(2)
5,836‌
18‌
CareDx (1)
5,111‌
100‌
Cargo
Therapeutics (1)
2,839‌
12‌
Cartesian
Therapeutics (1)(2)
925‌
10‌
Cartesian
Therapeutics,
CVR (1)(2)(3)
5,723‌
13‌
Catalyst
Pharmaceuticals (1)
10,849‌
235‌
Celcuity (1)
2,853‌
38‌
Celldex
Therapeutics (1)
6,029‌
123‌
CG
oncology (1)
5,238‌
136‌
Chinook
Therapeutics,
CVR (1)(3)
2,945‌
—‌
Cidara
Therapeutics (1)
1,578‌
77‌
Cogent
Biosciences (1)
9,957‌
71‌
Coherus
Oncology (1)(2)
9,190‌
7‌
Compass
Therapeutics (1)(2)
9,153‌
24‌
Corvus
Pharmaceuticals (1)
4,928‌
20‌
Crinetics
Pharmaceuticals (1)
8,557‌
246‌
CRISPR
Therapeutics (1)
7,756‌
377‌
Cullinan
Therapeutics (1)
4,600‌
35‌
Cytokinetics (1)
10,946‌
362‌
Day
One
Biopharmaceuticals (1)
6,757‌
44‌
Denali
Therapeutics (1)
12,412‌
174‌
Design
Therapeutics (1)
2,951‌
10‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
32
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
DiaMedica
Therapeutics (1)
2,499‌
10‌
Dianthus
Therapeutics (1)
1,822‌
34‌
Disc
Medicine (1)
2,310‌
122‌
Dynavax
Technologies (1)
9,841‌
98‌
Dyne
Therapeutics (1)
7,525‌
72‌
Editas
Medicine (1)
7,693‌
17‌
Eledon
Pharmaceuticals (1)
5,523‌
15‌
Emergent
BioSolutions (1)
5,069‌
32‌
Enanta
Pharmaceuticals (1)
1,572‌
12‌
Entrada
Therapeutics (1)
2,648‌
18‌
Erasca (1)
17,246‌
22‌
Fate
Therapeutics (1)
8,305‌
9‌
Fennec
Pharmaceuticals (1)(2)
2,222‌
18‌
Foghorn
Therapeutics (1)
3,087‌
15‌
Geron (1)
56,284‌
79‌
Gossamer
Bio (1)
17,860‌
22‌
GRAIL (1)
2,859‌
147‌
Greenwich
Lifesciences (1)(2)
442‌
4‌
GTX,
CVR (1)(3)
1‌
—‌
Gyre
Therapeutics (1)(2)
1,284‌
9‌
Heron
Therapeutics (1)(2)
14,371‌
30‌
Humacyte (1)(2)
11,781‌
25‌
Ideaya
Biosciences (1)
8,004‌
168‌
ImmunityBio (1)(2)
21,580‌
57‌
Immunome (1)(2)
6,912‌
64‌
Immunovant (1)
6,406‌
103‌
Inhibikase
Therapeutics (1)
5,720‌
11‌
Inhibrx,
CVR (1)(3)
2,250‌
—‌
Inhibrx
Biosciences (1)(2)
1,016‌
15‌
Inmune
Bio (1)(2)
1,269‌
3‌
Intellia
Therapeutics (1)(2)
9,641‌
90‌
Iovance
Biotherapeutics (1)(2)
24,571‌
42‌
Ironwood
Pharmaceuticals (1)
15,103‌
11‌
iTeos
Therapeutics (1)
2,806‌
28‌
Jade
Biosciences 
3,047‌
30‌
Janux
Therapeutics (1)
3,691‌
85‌
KalVista
Pharmaceuticals (1)
3,547‌
40‌
Keros
Therapeutics (1)
3,018‌
40‌
Kodiak
Sciences (1)
3,021‌
11‌
Korro
Bio (1)
559‌
7‌
Krystal
Biotech (1)
2,311‌
318‌
Kura
Oncology (1)
7,423‌
43‌
Kymera
Therapeutics (1)
4,375‌
191‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
33
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Larimar
Therapeutics (1)(2)
3,819‌
11‌
Lexeo
Therapeutics (1)
1,720‌
7‌
Madrigal
Pharmaceuticals (1)
1,582‌
479‌
MannKind (1)
28,385‌
106‌
MeiraGTx
Holdings (1)
4,265‌
28‌
Metsera (1)(2)
1,665‌
47‌
MiMedx
Group (1)
10,615‌
65‌
Mineralys
Therapeutics (1)
3,671‌
50‌
Mirum
Pharmaceuticals (1)
4,074‌
207‌
Monopar
Therapeutics (1)(2)
383‌
14‌
Monte
Rosa
Therapeutics (1)(2)
4,388‌
20‌
Myriad
Genetics (1)
8,754‌
46‌
Neurogene (1)(2)
1,095‌
16‌
Nkarta (1)(2)
4,961‌
8‌
Novavax (1)(2)
14,076‌
89‌
Nurix
Therapeutics (1)
7,161‌
82‌
Nuvalent,
Class
A (1)
4,026‌
307‌
Nuvectis
Pharma (1)(2)
1,217‌
9‌
Olema
Pharmaceuticals (1)
5,597‌
24‌
Organogenesis
Holdings (1)
6,061‌
22‌
ORIC
Pharmaceuticals (1)
4,190‌
43‌
Oruka
Therapeutics 
2,555‌
29‌
Palvella
Therapeutics (1)
646‌
15‌
Perspective
Therapeutics (1)
5,607‌
19‌
Praxis
Precision
Medicines (1)
1,670‌
70‌
Precigen (1)(2)
14,115‌
20‌
Prime
Medicine (1)(2)
5,368‌
13‌
Protagonist
Therapeutics (1)
5,464‌
302‌
Protalix
BioTherapeutics (1)
6,593‌
10‌
Protara
Therapeutics (1)
3,055‌
9‌
Prothena (1)
3,724‌
23‌
PTC
Therapeutics (1)
7,282‌
356‌
Puma
Biotechnology (1)
3,486‌
12‌
Recursion
Pharmaceuticals,
Class
A (1)(2)
31,823‌
161‌
REGENXBIO (1)
4,189‌
34‌
Relay
Therapeutics (1)
11,627‌
40‌
Replimune
Group (1)
6,235‌
58‌
Rezolute (1)
6,291‌
28‌
Rhythm
Pharmaceuticals (1)
5,103‌
322‌
Rigel
Pharmaceuticals (1)
1,547‌
29‌
Rocket
Pharmaceuticals (1)
6,999‌
17‌
Sage
Therapeutics (1)
5,333‌
49‌
Sana
Biotechnology (1)(2)
12,085‌
33‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
34
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Savara (1)(2)
10,864‌
25‌
Scholar
Rock
Holding (1)
7,607‌
269‌
SELLAS
Life
Sciences
Group (1)
8,983‌
20‌
Sionna
Therapeutics (1)(2)
1,161‌
20‌
Soleno
Therapeutics (1)
3,765‌
315‌
Solid
Biosciences (1)
6,202‌
30‌
SpringWorks
Therapeutics (1)
6,817‌
320‌
Spyre
Therapeutics (1)
4,676‌
70‌
Stoke
Therapeutics (1)
3,846‌
44‌
Syndax
Pharmaceuticals (1)
7,865‌
74‌
Tango
Therapeutics (1)
7,202‌
37‌
Taysha
Gene
Therapies (1)(2)
16,966‌
39‌
Tectonic
Therapeutic (1)
1,033‌
21‌
Tevogen
Bio
Holdings (1)
2,273‌
3‌
TG
Therapeutics (1)
13,607‌
490‌
Tobira
Therapeutics,
CVR (1)(3)
25‌
—‌
Tonix
Pharmaceuticals
Holding (1)(2)
711‌
26‌
Tourmaline
Bio (1)(2)
1,775‌
28‌
Travere
Therapeutics (1)
8,264‌
122‌
TriSalus
Life
Sciences (1)
1,512‌
8‌
TuHURA
Biosciences (1)
2,445‌
5‌
Twist
Bioscience (1)
5,466‌
201‌
Tyra
Biosciences (1)
2,265‌
22‌
Upstream
Bio (1)(2)
3,272‌
36‌
UroGen
Pharma (1)
3,532‌
48‌
Vanda
Pharmaceuticals,
A
Shares (1)
5,168‌
24‌
Vaxcyte (1)
11,784‌
383‌
Vera
Therapeutics (1)
4,824‌
114‌
Veracyte (1)
7,345‌
199‌
Verastem (1)
4,272‌
18‌
Vericel (1)
4,722‌
201‌
Verve
Therapeutics (1)
6,506‌
73‌
Vir
Biotechnology (1)
8,157‌
41‌
Viridian
Therapeutics (1)
6,775‌
95‌
Voyager
Therapeutics (1)
4,230‌
13‌
Xencor (1)
6,609‌
52‌
Xenon
Pharmaceuticals (1)
7,120‌
223‌
XOMA
Royalty (1)
882‌
22‌
Y-mAbs
Therapeutics (1)(2)
3,193‌
14‌
Zenas
Biopharma (1)
1,411‌
14‌
Zymeworks (1)
4,940‌
62‌
17,183‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
35
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Health
Care
Equipment
&
Supplies
 2.9%
Accuray (1)
8,317‌
11‌
Alphatec
Holdings (1)
10,876‌
121‌
AngioDynamics (1)
3,537‌
35‌
Anteris
Technologies
Global (1)(2)
2,039‌
8‌
Artivion (1)
3,566‌
111‌
AtriCure (1)
4,536‌
149‌
Avanos
Medical (1)
4,345‌
53‌
Axogen (1)
4,120‌
45‌
Beta
Bionics (1)
1,109‌
16‌
Bioventus,
Class
A (1)
3,907‌
26‌
Butterfly
Network (1)
18,037‌
36‌
Ceribell (1)
2,339‌
44‌
Cerus (1)
16,159‌
23‌
ClearPoint
Neuro (1)
2,448‌
29‌
CONMED 
2,922‌
152‌
CVRx (1)(2)
1,251‌
7‌
Delcath
Systems (1)
2,829‌
39‌
Electromed (1)
651‌
14‌
Embecta 
5,235‌
51‌
Enovis (1)
5,359‌
168‌
Glaukos (1)
5,239‌
541‌
Haemonetics (1)
4,725‌
353‌
ICU
Medical (1)
2,266‌
299‌
Inogen (1)
2,013‌
14‌
Integer
Holdings (1)
3,230‌
397‌
Integra
LifeSciences
Holdings (1)
6,463‌
79‌
iRadimed 
736‌
44‌
iRhythm
Technologies (1)
2,988‌
460‌
Kestra
Medical
Technologies (1)
1,236‌
21‌
KORU
Medical
Systems (1)
4,003‌
14‌
Lantheus
Holdings (1)
6,323‌
518‌
LeMaitre
Vascular 
1,955‌
162‌
LENSAR (1)
888‌
12‌
LivaNova (1)
5,098‌
230‌
Lucid
Diagnostics (1)(2)
6,559‌
8‌
Merit
Medical
Systems (1)
5,480‌
512‌
Myomo (1)
3,090‌
7‌
Neogen (1)
20,327‌
97‌
Neuronetics (1)
3,413‌
12‌
NeuroPace (1)
2,260‌
25‌
Novocure (1)
9,510‌
169‌
Omnicell (1)
4,368‌
128‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
36
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
OraSure
Technologies (1)
6,318‌
19‌
Orthofix
Medical (1)
3,642‌
41‌
OrthoPediatrics (1)
1,526‌
33‌
Outset
Medical (1)
1,664‌
32‌
PROCEPT
BioRobotics (1)
4,922‌
284‌
Pro-Dex (1)
200‌
9‌
Pulmonx (1)
3,233‌
8‌
Pulse
Biosciences (1)(2)
1,656‌
25‌
QuidelOrtho (1)
6,354‌
183‌
RxSight (1)
3,329‌
43‌
Sanara
Medtech (1)
378‌
11‌
SANUWAVE
Health (1)
659‌
22‌
Semler
Scientific (1)(2)
786‌
30‌
SI-BONE (1)
3,739‌
70‌
Sight
Sciences (1)(2)
3,317‌
14‌
STAAR
Surgical (1)
4,718‌
79‌
Stereotaxis (1)
5,272‌
11‌
Surmodics (1)
1,265‌
38‌
Tactile
Systems
Technology (1)
2,195‌
22‌
Tandem
Diabetes
Care (1)
6,267‌
117‌
TransMedics
Group (1)
3,114‌
417‌
Treace
Medical
Concepts (1)
4,319‌
25‌
UFP
Technologies (1)
705‌
172‌
Utah
Medical
Products 
262‌
15‌
Varex
Imaging (1)
3,645‌
32‌
Zimvie (1)
2,294‌
21‌
7,013‌
Health
Care
Providers
&
Services
 3.4%
AdaptHealth (1)
8,647‌
82‌
Addus
HomeCare (1)
1,703‌
196‌
agilon
health (1)
29,640‌
68‌
AirSculpt
Technologies (1)(2)
1,045‌
5‌
Alignment
Healthcare (1)
11,962‌
168‌
AMN
Healthcare
Services (1)
3,595‌
74‌
Ardent
Health (1)
2,162‌
30‌
Astrana
Health (1)
3,816‌
95‌
Aveanna
Healthcare
Holdings (1)
4,456‌
23‌
BrightSpring
Health
Services (1)
7,921‌
187‌
Brookdale
Senior
Living (1)
21,519‌
150‌
Castle
Biosciences (1)
2,666‌
54‌
Clover
Health
Investments (1)
37,854‌
106‌
Community
Health
Systems (1)
11,351‌
39‌
Concentra
Group
Holdings
Parent 
10,952‌
225‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
37
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
CorVel (1)
2,729‌
281‌
Cross
Country
Healthcare (1)
2,775‌
36‌
DocGo (1)
8,970‌
14‌
Enhabit (1)
4,548‌
44‌
Ensign
Group 
5,266‌
812‌
Fulgent
Genetics (1)
1,880‌
37‌
GeneDx
Holdings (1)
1,760‌
162‌
Guardant
Health (1)
11,192‌
582‌
HealthEquity (1)
7,998‌
838‌
Hims
&
Hers
Health (1)
17,939‌
894‌
Innovage
Holding (1)
1,322‌
5‌
Joint (1)
1,419‌
16‌
LifeStance
Health
Group (1)
12,385‌
64‌
Nano-X
Imaging (1)(2)
6,035‌
31‌
National
HealthCare 
1,165‌
125‌
National
Research 
1,279‌
22‌
NeoGenomics (1)
12,097‌
88‌
Nutex
Health (1)
322‌
40‌
Oncology
Institute (1)
5,569‌
11‌
OPKO
Health (1)
33,955‌
45‌
Option
Care
Health (1)
15,436‌
501‌
Oscar
Health,
Class
A (1)
17,155‌
368‌
Owens
&
Minor (1)
6,780‌
62‌
PACS
Group (1)
4,134‌
53‌
Pediatrix
Medical
Group (1)
8,050‌
116‌
Pennant
Group (1)
3,103‌
93‌
Performant
Healthcare (1)
6,524‌
26‌
Premier,
Class
A 
8,572‌
188‌
Privia
Health
Group (1)
10,780‌
248‌
Progyny (1)
6,428‌
141‌
RadNet (1)
6,233‌
355‌
SBC
Medical
Group
Holdings (1)
529‌
2‌
Select
Medical
Holdings 
10,482‌
159‌
Sonida
Senior
Living (1)
424‌
11‌
Surgery
Partners (1)
7,116‌
158‌
Talkspace (1)
11,091‌
31‌
U.S.
Physical
Therapy 
1,413‌
111‌
Viemed
Healthcare (1)
3,121‌
22‌
8,294‌
Health
Care
Technology
 0.5%
Definitive
Healthcare (1)
4,558‌
18‌
Evolent
Health,
Class
A (1)
10,909‌
123‌
Health
Catalyst (1)
6,360‌
24‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
38
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
HealthStream 
2,300‌
64‌
LifeMD (1)
3,307‌
45‌
Multiplan (1)
725‌
33‌
OptimizeRx (1)
1,730‌
23‌
Phreesia (1)
5,222‌
149‌
Schrodinger (1)
5,190‌
104‌
Simulations
Plus 
1,402‌
24‌
Teladoc
Health (1)
16,485‌
144‌
TruBridge (1)
939‌
22‌
Waystar
Holding (1)
8,521‌
348‌
1,121‌
Life
Sciences
Tools
&
Services
 0.4%
10X
Genomics,
Class
A (1)
9,902‌
115‌
Adaptive
Biotechnologies (1)
14,006‌
163‌
Atlantic
International (1)(2)
1,007‌
2‌
Azenta (1)
3,827‌
118‌
BioLife
Solutions (1)
3,558‌
77‌
Codexis (1)
7,380‌
18‌
CryoPort (1)
4,590‌
34‌
Cytek
Biosciences (1)
10,854‌
37‌
Fortrea
Holdings (1)
8,575‌
42‌
Lifecore
Biomedical (1)
2,595‌
21‌
Maravai
LifeSciences
Holdings,
Class
A (1)(2)
11,471‌
28‌
MaxCyte (1)
9,855‌
21‌
Mesa
Laboratories 
465‌
44‌
Niagen
Bioscience (1)
4,897‌
71‌
Omniab (1)
8,053‌
14‌
Omniab,
Earn
Out
Shares
$12.50 (1)
233‌
—‌
Omniab,
Earn
Out
Shares
$15.00 (1)
233‌
—‌
Pacific
Biosciences
of
California (1)(2)
27,331‌
34‌
Personalis (1)
4,711‌
31‌
Quanterix (1)
3,025‌
20‌
Quantum-Si (1)
13,256‌
26‌
Standard
BioTools (1)
27,118‌
32‌
948‌
Pharmaceuticals
 1.6%
Aardvark
Therapeutics (1)
538‌
7‌
Aclaris
Therapeutics (1)
8,561‌
12‌
Alumis (1)
5,090‌
15‌
Amneal
Pharmaceuticals (1)
14,077‌
114‌
Amphastar
Pharmaceuticals (1)
3,601‌
83‌
Amylyx
Pharmaceuticals (1)
6,511‌
42‌
ANI
Pharmaceuticals (1)
1,690‌
110‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
39
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Aquestive
Therapeutics (1)(2)
8,087‌
27‌
Arvinas (1)
5,832‌
43‌
Atea
Pharmaceuticals (1)
6,556‌
24‌
Avadel
Pharmaceuticals (1)
8,804‌
78‌
Axsome
Therapeutics (1)
3,792‌
396‌
BioAge
Labs (1)
2,243‌
9‌
Biote,
Class
A (1)
2,536‌
10‌
Collegium
Pharmaceutical (1)
2,929‌
87‌
CorMedix (1)
6,027‌
74‌
Edgewise
Therapeutics (1)
6,680‌
88‌
Enliven
Therapeutics (1)(2)
3,012‌
60‌
Esperion
Therapeutics (1)(2)
18,794‌
19‌
Eton
Pharmaceuticals (1)
2,408‌
34‌
Evolus (1)
5,032‌
46‌
EyePoint
Pharmaceuticals (1)
5,991‌
56‌
Fulcrum
Therapeutics (1)
5,003‌
34‌
Harmony
Biosciences
Holdings (1)
4,101‌
130‌
Harrow (1)
2,902‌
89‌
Indivior (1)
11,371‌
168‌
Innoviva (1)
5,903‌
119‌
Journey
Medical (1)
1,149‌
8‌
LENZ
Therapeutics (1)(2)
1,669‌
49‌
Ligand
Pharmaceuticals (1)
1,787‌
203‌
Liquidia (1)
6,040‌
75‌
Maze
Therapeutics (1)
740‌
9‌
MBX
Biosciences (1)(2)
1,605‌
18‌
MediWound (1)(2)
780‌
15‌
Mind
Medicine
MindMed (1)(2)
6,708‌
44‌
Nektar
Therapeutics (1)
1,099‌
28‌
Nuvation
Bio (1)(2)
23,422‌
46‌
Ocular
Therapeutix (1)
13,153‌
122‌
Omeros (1)(2)
4,817‌
15‌
Pacira
BioSciences (1)
4,315‌
103‌
Phathom
Pharmaceuticals (1)(2)
3,964‌
38‌
Phibro
Animal
Health,
Class
A 
1,872‌
48‌
Prestige
Consumer
Healthcare (1)
4,611‌
368‌
Rapport
Therapeutics (1)(2)
1,415‌
16‌
scPharmaceuticals (1)(2)
3,601‌
14‌
Septerna (1)
2,010‌
21‌
SIGA
Technologies 
4,204‌
27‌
Supernus
Pharmaceuticals (1)
5,056‌
159‌
Tarsus
Pharmaceuticals (1)
3,633‌
147‌
Terns
Pharmaceuticals (1)
6,152‌
23‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
40
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Theravance
Biopharma (1)
3,382‌
37‌
Third
Harmonic
Bio (1)
2,206‌
12‌
Trevi
Therapeutics (1)
6,782‌
37‌
Tvardi
Therapeutics (1)
323‌
8‌
WaVe
Life
Sciences (1)
10,512‌
68‌
Xeris
Biopharma
Holdings (1)
14,062‌
66‌
Zevra
Therapeutics (1)
4,840‌
43‌
3,841‌
Total
Health
Care
38,400‌
INDUSTRIALS
&
BUSINESS
SERVICES
 16.9%
Aerospace
&
Defense
 1.6%
AAR (1)
3,348‌
230‌
AeroVironment (1)
2,648‌
755‌
AerSale (1)
2,796‌
17‌
Archer
Aviation,
Class
A (1)
51,090‌
554‌
Astronics (1)
2,789‌
93‌
Byrna
Technologies (1)
1,700‌
53‌
Cadre
Holdings 
2,671‌
85‌
Ducommun (1)
1,295‌
107‌
Eve
Holding (1)(2)
5,003‌
34‌
Intuitive
Machines (1)
10,259‌
112‌
Kratos
Defense
&
Security
Solutions (1)
15,462‌
718‌
Mercury
Systems (1)
4,879‌
263‌
Moog,
Class
A 
2,637‌
477‌
National
Presto
Industries 
466‌
46‌
Park
Aerospace 
1,612‌
24‌
Redwire (1)
3,152‌
51‌
Satellogic,
Class
A (1)(2)
6,481‌
24‌
Triumph
Group (1)
6,957‌
179‌
V2X (1)
1,590‌
77‌
3,899‌
Air
Freight
&
Logistics
 0.1%
Forward
Air (1)(2)
2,290‌
56‌
Hub
Group,
Class
A 
5,543‌
185‌
Radiant
Logistics (1)
3,345‌
21‌
262‌
Building
Products
 1.4%
American
Woodmark (1)
1,440‌
77‌
Apogee
Enterprises 
1,997‌
81‌
AZZ 
2,784‌
263‌
CSW
Industrials 
1,526‌
438‌
Gibraltar
Industries (1)
2,835‌
167‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
41
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Griffon 
3,678‌
266‌
Insteel
Industries 
1,691‌
63‌
Janus
International
Group (1)
12,977‌
106‌
JELD-WEN
Holding (1)
7,703‌
30‌
Masterbrand (1)
11,770‌
129‌
Quanex
Building
Products 
4,499‌
85‌
Resideo
Technologies (1)
13,923‌
307‌
Tecnoglass 
2,281‌
176‌
UFP
Industries 
5,661‌
563‌
Zurn
Elkay
Water
Solutions 
14,091‌
515‌
3,266‌
Commercial
Services
&
Supplies
 1.9%
ABM
Industries 
5,803‌
274‌
ACCO
Brands 
9,099‌
32‌
Acme
United 
314‌
13‌
ACV
Auctions,
Class
A (1)
15,742‌
255‌
BrightView
Holdings (1)
5,613‌
93‌
Brink's 
4,085‌
365‌
Casella
Waste
Systems,
Class
A (1)
5,894‌
680‌
CECO
Environmental (1)
2,786‌
79‌
Cimpress (1)
1,404‌
66‌
CompX
International 
107‌
3‌
CoreCivic (1)
10,038‌
211‌
Deluxe 
3,978‌
63‌
Driven
Brands
Holdings (1)
5,434‌
95‌
Ennis 
2,299‌
42‌
Enviri (1)
7,232‌
63‌
GEO
Group (1)
12,818‌
307‌
Healthcare
Services
Group (1)
6,722‌
101‌
HNI 
4,387‌
216‌
Interface 
5,437‌
114‌
Liquidity
Services (1)
2,182‌
51‌
MillerKnoll 
6,367‌
124‌
Mobile
Infrastructure (1)
1,370‌
6‌
Montrose
Environmental
Group (1)
3,044‌
67‌
NL
Industries 
586‌
4‌
OPENLANE (1)
9,969‌
244‌
Perma-Fix
Environmental
Services (1)
1,519‌
16‌
Pitney
Bowes 
17,204‌
188‌
Quad/Graphics 
2,786‌
16‌
Steelcase,
Class
A 
7,844‌
82‌
UniFirst 
1,414‌
266‌
Vestis 
10,823‌
62‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
42
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Virco
Mfg. 
1,042‌
8‌
VSE 
1,903‌
249‌
4,455‌
Construction
&
Engineering
 2.1%
Ameresco,
Class
A (1)
2,966‌
45‌
Arcosa 
4,553‌
395‌
Argan 
1,244‌
274‌
Bowman
Consulting
Group (1)
1,320‌
38‌
Centuri
Holdings (1)
1,541‌
35‌
Concrete
Pumping
Holdings 
1,947‌
12‌
Construction
Partners,
Class
A (1)
4,400‌
468‌
Dycom
Industries (1)
2,639‌
645‌
Fluor (1)
15,685‌
804‌
Granite
Construction 
4,101‌
384‌
Great
Lakes
Dredge
&
Dock (1)
6,244‌
76‌
IES
Holdings (1)
848‌
251‌
Limbach
Holdings (1)
994‌
139‌
Matrix
Service (1)
2,394‌
33‌
MYR
Group (1)
1,445‌
262‌
NWPX
Infrastructure (1)
885‌
36‌
Orion
Group
Holdings (1)
3,295‌
30‌
Primoris
Services 
5,072‌
395‌
Southland
Holdings (1)
912‌
4‌
Sterling
Infrastructure (1)
2,796‌
645‌
Tutor
Perini (1)
4,174‌
195‌
5,166‌
Electrical
Equipment
 1.6%
Allient 
1,344‌
49‌
American
Superconductor (1)
3,581‌
131‌
Amprius
Technologies (1)
8,752‌
37‌
Array
Technologies (1)
13,794‌
81‌
Atkore 
3,200‌
226‌
Bloom
Energy,
Class
A (1)
19,195‌
459‌
Complete
Solaria (1)(2)
5,700‌
10‌
EnerSys 
3,676‌
315‌
Enovix (1)(2)
15,341‌
159‌
Eos
Energy
Enterprises (1)
20,867‌
107‌
Fluence
Energy (1)(2)
7,128‌
48‌
Hyliion
Holdings (1)
12,043‌
16‌
KULR
Technology
Group (1)
3,106‌
22‌
LSI
Industries 
2,612‌
44‌
NANO
Nuclear
Energy (1)
2,508‌
87‌
Net
Power (1)(2)
3,218‌
8‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
43
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
NEXTracker,
Class
A (1)
13,293‌
723‌
NuScale
Power (1)
11,880‌
470‌
Plug
Power (1)(2)
85,715‌
128‌
Powell
Industries (2)
895‌
188‌
Power
Solutions
International (1)
615‌
40‌
Preformed
Line
Products 
222‌
35‌
Shoals
Technologies
Group,
Class
A (1)
15,772‌
67‌
SKYX
Platforms (1)
5,806‌
6‌
Stem (1)
1‌
—‌
Sunrun (1)
19,623‌
161‌
T1
Energy (1)(2)
9,407‌
12‌
Thermon
Group
Holdings (1)
3,173‌
89‌
Vicor (1)
2,190‌
99‌
3,817‌
Ground
Transportation
 0.4%
ArcBest 
2,192‌
169‌
Covenant
Logistics
Group 
1,472‌
35‌
FTAI
Infrastructure 
9,086‌
56‌
Heartland
Express 
4,796‌
41‌
Hertz
Global
Holdings (1)(2)
11,083‌
76‌
Marten
Transport 
5,557‌
72‌
Pamt (1)
432‌
5‌
Proficient
Auto
Logistics (1)(2)
2,224‌
16‌
RXO (1)
15,240‌
240‌
Universal
Logistics
Holdings 
574‌
15‌
Werner
Enterprises 
5,728‌
157‌
882‌
Industrial
Conglomerates
 0.0%
Brookfield
Business,
Class
A 
2,350‌
73‌
73‌
Machinery
 3.8%
3D
Systems (1)
11,783‌
18‌
AirJoule
Technologies (1)(2)
2,032‌
9‌
Alamo
Group 
970‌
212‌
Albany
International,
Class
A 
2,887‌
202‌
Astec
Industries 
2,172‌
91‌
Atmus
Filtration
Technologies 
7,820‌
285‌
Blue
Bird (1)
3,001‌
130‌
Chart
Industries (1)
4,241‌
698‌
Columbus
McKinnon 
2,601‌
40‌
Douglas
Dynamics 
2,061‌
61‌
Eastern (2)
498‌
11‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
44
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Energy
Recovery (1)
5,106‌
65‌
Enerpac
Tool
Group 
5,017‌
203‌
Enpro 
1,982‌
380‌
ESCO
Technologies 
2,438‌
468‌
Federal
Signal 
5,631‌
599‌
Franklin
Electric 
3,742‌
336‌
Gencor
Industries (1)
824‌
12‌
Gorman-Rupp 
2,006‌
74‌
Graham (1)
952‌
47‌
Greenbrier 
2,859‌
132‌
Helios
Technologies 
3,112‌
104‌
Hillenbrand 
6,540‌
131‌
Hillman
Solutions (1)
18,280‌
130‌
Hyster-Yale 
1,031‌
41‌
JBT
Marel 
4,897‌
589‌
Kadant 
1,104‌
350‌
Kennametal 
7,233‌
166‌
L
B
Foster,
Class
A (1)
962‌
21‌
Lindsay 
1,007‌
145‌
Luxfer
Holdings 
2,314‌
28‌
Manitowoc (1)
3,029‌
36‌
Mayville
Engineering (1)
1,183‌
19‌
Microvast
Holdings (1)
18,662‌
68‌
Miller
Industries 
1,081‌
48‌
Mueller
Water
Products,
Class
A 
14,623‌
352‌
Omega
Flex 
343‌
11‌
Palladyne
AI (1)
2,400‌
21‌
Park-Ohio
Holdings 
768‌
14‌
Proto
Labs (1)
2,245‌
90‌
REV
Group 
4,757‌
226‌
Richtech
Robotics,
Class
B (1)(2)
6,522‌
13‌
Shyft
Group 
3,063‌
38‌
SPX
Technologies (1)
4,277‌
717‌
Standex
International 
1,111‌
174‌
Tennant 
1,765‌
137‌
Terex 
6,132‌
286‌
Titan
International (1)
4,536‌
47‌
Trinity
Industries 
7,675‌
207‌
Wabash
National 
3,923‌
42‌
Watts
Water
Technologies,
Class
A 
2,574‌
633‌
Worthington
Enterprises 
2,951‌
188‌
9,145‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
45
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Marine
Transportation
 0.2%
Costamare 
3,924‌
36‌
Costamare
Bulkers
Holdings (1)
784‌
7‌
Genco
Shipping
&
Trading 
3,833‌
50‌
Golden
Ocean
Group 
9,564‌
70‌
Himalaya
Shipping (2)
2,865‌
16‌
Matson 
3,051‌
340‌
Pangaea
Logistics
Solutions 
2,955‌
14‌
Safe
Bulkers 
5,696‌
20‌
553‌
Passenger
Airlines
 0.5%
Allegiant
Travel 
1,398‌
77‌
Blade
Air
Mobility (1)
5,589‌
23‌
Frontier
Group
Holdings (1)
7,955‌
29‌
JetBlue
Airways (1)
30,166‌
128‌
Joby
Aviation (1)(2)
43,255‌
456‌
SkyWest (1)
3,792‌
390‌
Spirit
Aviation
Holdings (1)
1,524‌
8‌
Sun
Country
Airlines
Holdings (1)
4,800‌
56‌
1,167‌
Professional
Services
 2.0%
Acuren (1)(2)
9,705‌
107‌
Alight,
Class
A 
40,426‌
229‌
Asure
Software (1)
2,106‌
20‌
Barrett
Business
Services 
2,325‌
97‌
BlackSky
Technology (1)(2)
2,627‌
54‌
CBIZ (1)
4,913‌
352‌
Conduent (1)
14,231‌
38‌
CRA
International 
616‌
115‌
CSG
Systems
International 
2,602‌
170‌
Exponent 
4,765‌
356‌
First
Advantage (1)
7,426‌
123‌
Forrester
Research (1)
1,018‌
10‌
Franklin
Covey (1)
1,018‌
23‌
Heidrick
&
Struggles
International 
1,918‌
88‌
HireQuest (2)
364‌
4‌
Huron
Consulting
Group (1)
1,612‌
222‌
IBEX
Holdings (1)
939‌
27‌
ICF
International 
1,734‌
147‌
Innodata (1)
2,842‌
146‌
Insperity 
3,382‌
203‌
Kelly
Services,
Class
A 
2,876‌
34‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
46
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Kforce 
1,746‌
72‌
Korn
Ferry 
4,845‌
355‌
Legalzoom.com (1)
10,366‌
92‌
Maximus 
5,305‌
372‌
Mistras
Group (1)
1,866‌
15‌
NV5
Global (1)
5,447‌
126‌
Planet
Labs
PBC (1)
20,774‌
127‌
RCM
Technologies (1)
463‌
11‌
Resolute
Holdings
Management (1)
400‌
13‌
Resources
Connection 
2,986‌
16‌
Skillsoft (1)
422‌
7‌
Spire
Global (1)
2,578‌
31‌
TriNet
Group 
2,803‌
205‌
TrueBlue (1)
2,637‌
17‌
TTEC
Holdings (1)(2)
1,529‌
7‌
Upwork (1)
11,662‌
157‌
Verra
Mobility (1)
14,964‌
380‌
Willdan
Group (1)
1,303‌
81‌
WNS
Holdings (1)
3,791‌
240‌
4,889‌
Trading
Companies
&
Distributors
 1.3%
Alta
Equipment
Group (2)
2,315‌
15‌
BlueLinx
Holdings (1)
737‌
55‌
Boise
Cascade 
3,584‌
311‌
Custom
Truck
One
Source (1)
5,665‌
28‌
Distribution
Solutions
Group (1)
953‌
26‌
DNOW (1)
10,104‌
150‌
DXP
Enterprises (1)
1,220‌
107‌
EVI
Industries 
548‌
12‌
GATX 
3,366‌
517‌
Global
Industrial 
1,338‌
36‌
GMS (1)
3,634‌
395‌
Herc
Holdings 
3,064‌
403‌
Hudson
Technologies (1)
3,966‌
32‌
Karat
Packaging 
589‌
17‌
McGrath
RentCorp 
2,300‌
267‌
MRC
Global (1)
7,991‌
109‌
NPK
International (1)
7,651‌
65‌
Rush
Enterprises,
Class
A 
5,866‌
302‌
Rush
Enterprises,
Class
B 
862‌
45‌
Titan
Machinery (1)
1,905‌
38‌
Transcat (1)
826‌
71‌
Willis
Lease
Finance 
335‌
48‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
47
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Xometry,
Class
A (1)
4,081‌
138‌
3,187‌
Transportation
Infrastructure
 0.0%
Sky
Harbour
Group (1)
2,001‌
19‌
19‌
Total
Industrials
&
Business
Services
40,780‌
INFORMATION
TECHNOLOGY
 14.5%
Communications
Equipment
 0.8%
ADTRAN
Holdings (1)
7,122‌
64‌
Applied
Optoelectronics (1)(2)
5,039‌
129‌
Aviat
Networks (1)
1,049‌
25‌
BK
Technologies (1)
257‌
12‌
Calix (1)
5,481‌
292‌
Clearfield (1)
1,070‌
46‌
CommScope
Holding (1)
20,192‌
167‌
Digi
International (1)
3,417‌
119‌
Extreme
Networks (1)
12,373‌
222‌
Harmonic (1)
10,549‌
100‌
Inseego (1)
1,174‌
10‌
NETGEAR (1)
2,508‌
73‌
NetScout
Systems (1)
6,557‌
163‌
Ribbon
Communications (1)
8,274‌
33‌
Viasat (1)
10,613‌
155‌
Viavi
Solutions (1)
20,757‌
209‌
1,819‌
Electronic
Equipment,
Instruments
&
Components
 3.5%
908
Devices (1)
2,379‌
17‌
Advanced
Energy
Industries 
3,535‌
468‌
Aeva
Technologies (1)(2)
2,874‌
109‌
Arlo
Technologies (1)
9,323‌
158‌
Badger
Meter 
2,782‌
681‌
Bel
Fuse,
Class
A 
167‌
15‌
Bel
Fuse,
Class
B 
983‌
96‌
Belden 
3,711‌
430‌
Benchmark
Electronics 
3,331‌
129‌
Climb
Global
Solutions 
377‌
40‌
CTS 
2,811‌
120‌
Daktronics (1)
3,673‌
56‌
ePlus (1)
2,442‌
176‌
Evolv
Technologies
Holdings (1)
10,810‌
67‌
Fabrinet (1)
3,383‌
997‌
FARO
Technologies (1)
1,722‌
76‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
48
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Frequency
Electronics 
621‌
14‌
Insight
Enterprises (1)
2,602‌
359‌
Itron (1)
4,258‌
560‌
Kimball
Electronics (1)
2,264‌
44‌
Knowles (1)
8,099‌
143‌
Methode
Electronics 
3,129‌
30‌
MicroVision (1)(2)
23,061‌
26‌
Mirion
Technologies (1)
19,687‌
424‌
M-Tron
Industries (1)
232‌
10‌
Napco
Security
Technologies 
3,343‌
99‌
Neonode (1)(2)
988‌
25‌
nLight (1)
4,510‌
89‌
Novanta (1)
3,383‌
436‌
OSI
Systems (1)
1,503‌
338‌
Ouster (1)
4,764‌
116‌
PAR
Technology (1)
3,757‌
261‌
PC
Connection 
1,107‌
73‌
Plexus (1)
2,498‌
338‌
Powerfleet (1)
11,664‌
50‌
Red
Cat
Holdings (1)
7,025‌
51‌
Richardson
Electronics 
1,095‌
11‌
Rogers (1)
1,753‌
120‌
Sanmina (1)
4,897‌
479‌
ScanSource (1)
2,039‌
85‌
TTM
Technologies (1)
9,439‌
385‌
Vishay
Intertechnology 
11,554‌
183‌
Vishay
Precision
Group (1)
1,123‌
32‌
Vuzix (1)(2)
6,047‌
18‌
8,434‌
IT
Services
 0.5%
Applied
Digital (1)(2)
16,557‌
167‌
ASGN (1)
3,993‌
199‌
Backblaze,
Class
A (1)
5,034‌
28‌
BigBear.ai
Holdings (1)(2)
27,126‌
184‌
BigCommerce
Holdings,
Series
1 (1)
6,544‌
33‌
Couchbase (1)
4,037‌
98‌
Crexendo (1)
1,370‌
8‌
CSP 
659‌
9‌
DigitalOcean
Holdings (1)
6,140‌
175‌
Fastly,
Class
A (1)
12,590‌
89‌
Grid
Dynamics
Holdings (1)
6,190‌
72‌
Hackett
Group 
2,411‌
61‌
Information
Services
Group 
3,299‌
16‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
49
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Rackspace
Technology (1)
5,893‌
8‌
TSS (1)
1,712‌
49‌
Tucows,
Class
A (1)
738‌
15‌
Unisys (1)
6,493‌
29‌
1,240‌
Semiconductors
&
Semiconductor
Equipment
 2.8%
ACM
Research,
Class
A (1)
4,857‌
126‌
Aehr
Test
Systems (1)(2)
2,646‌
34‌
Aeluma (1)
907‌
15‌
Alpha
&
Omega
Semiconductor (1)
2,322‌
60‌
Ambarella (1)
3,818‌
252‌
Atomera (1)
2,759‌
14‌
Axcelis
Technologies (1)
3,050‌
212‌
CEVA (1)
2,103‌
46‌
Cohu (1)
4,290‌
82‌
Credo
Technology
Group
Holding (1)
13,736‌
1,272‌
Diodes (1)
4,303‌
228‌
FormFactor (1)
7,304‌
251‌
Ichor
Holdings (1)
3,191‌
63‌
Impinj (1)
2,434‌
270‌
indie
Semiconductor,
Class
A (1)(2)
18,193‌
65‌
Kopin (1)
14,060‌
21‌
Kulicke
&
Soffa
Industries 
4,843‌
168‌
MaxLinear (1)
7,653‌
109‌
Navitas
Semiconductor (1)
12,562‌
82‌
NVE 
454‌
33‌
PDF
Solutions (1)
2,994‌
64‌
Penguin
Solutions (1)
5,000‌
99‌
Photronics (1)
5,757‌
108‌
Power
Integrations 
5,279‌
295‌
Rambus (1)
10,115‌
648‌
Rigetti
Computing (1)
26,525‌
315‌
Semtech (1)
8,172‌
369‌
Silicon
Laboratories (1)
3,024‌
446‌
SiTime (1)
1,982‌
422‌
SkyWater
Technology (1)(2)
2,492‌
24‌
Synaptics (1)
3,650‌
237‌
Ultra
Clean
Holdings (1)
4,202‌
95‌
Veeco
Instruments (1)
5,364‌
109‌
Wolfspeed (1)
14,826‌
6‌
6,640‌
Software
 6.3%
8x8 (1)
11,064‌
22‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
50
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
A10
Networks 
6,918‌
134‌
ACI
Worldwide (1)
9,888‌
454‌
Adeia 
10,133‌
143‌
Agilysys (1)
2,427‌
278‌
Airship
AI
Holdings (1)(2)
1,891‌
11‌
Alarm.com
Holdings (1)
4,464‌
253‌
Alkami
Technology (1)
6,396‌
193‌
Amplitude,
Class
A (1)
8,168‌
101‌
Appian,
Class
A (1)
3,760‌
112‌
Arteris (1)
2,644‌
25‌
Asana,
Class
A (1)
8,754‌
118‌
AudioEye (1)
707‌
8‌
AvePoint (1)
12,459‌
241‌
Bit
Digital (1)
17,041‌
37‌
Bitdeer
Technologies
Group,
Class
A (1)
8,419‌
97‌
Blackbaud (1)
3,628‌
233‌
BlackLine (1)
4,936‌
280‌
Blend
Labs,
Class
A (1)
19,618‌
65‌
Box,
Class
A (1)
13,100‌
448‌
Braze,
Class
A (1)
7,155‌
201‌
C3.ai,
Class
A (1)
11,348‌
279‌
Cerence (1)
3,932‌
40‌
Cipher
Mining (1)
24,866‌
119‌
Cleanspark (1)(2)
26,015‌
287‌
Clearwater
Analytics
Holdings,
Class
A (1)
23,127‌
507‌
Commvault
Systems (1)
4,148‌
723‌
Consensus
Cloud
Solutions (1)
1,823‌
42‌
Core
Scientific (1)
25,876‌
442‌
CoreCard (1)
528‌
15‌
CS
Disco (1)
2,764‌
12‌
Daily
Journal (1)
126‌
53‌
Digimarc (1)(2)
1,291‌
17‌
Digital
Turbine (1)
9,561‌
56‌
Domo,
Class
B (1)
3,160‌
44‌
D-Wave
Quantum (1)
27,004‌
395‌
E2open
Parent
Holdings (1)
17,100‌
55‌
eGain (1)
1,562‌
10‌
EverCommerce (1)(2)
1,812‌
19‌
Expensify,
Class
A (1)
5,638‌
15‌
Five9 (1)
7,164‌
190‌
Freshworks,
Class
A (1)
19,294‌
288‌
Hut
8 (1)
8,836‌
164‌
I3
Verticals,
Class
A (1)
2,053‌
56‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
51
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Intapp (1)
5,198‌
268‌
InterDigital 
2,428‌
544‌
Jamf
Holding (1)
6,302‌
60‌
Kaltura (1)
8,349‌
17‌
Life360 (1)(2)
1,508‌
98‌
LiveRamp
Holdings (1)
6,060‌
200‌
MARA
Holdings (1)(2)
32,523‌
510‌
Mercurity
Fintech
Holding (1)
3,019‌
12‌
Meridianlink (1)
2,950‌
48‌
Mitek
Systems (1)
4,349‌
43‌
N-able (1)
6,512‌
53‌
NCR
Voyix (1)
13,024‌
153‌
NextNav (1)
8,253‌
126‌
Olo,
Class
A (1)
10,827‌
96‌
ON24 (1)
3,524‌
19‌
OneSpan 
3,415‌
57‌
Ooma (1)
2,155‌
28‌
Pagaya
Technologies,
Class
A (1)(2)
3,941‌
84‌
PagerDuty (1)
8,080‌
124‌
Porch
Group (1)
7,454‌
88‌
Progress
Software 
4,015‌
256‌
PROS
Holdings (1)
4,099‌
64‌
Q2
Holdings (1)
5,832‌
546‌
Qualys (1)
3,452‌
493‌
Rapid7 (1)
5,990‌
139‌
Red
Violet 
1,007‌
50‌
ReposiTrak (2)
1,028‌
20‌
Rezolve
AI (1)(2)
8,543‌
26‌
Rimini
Street (1)
5,023‌
19‌
Riot
Platforms (1)
30,980‌
350‌
Sapiens
International 
2,930‌
86‌
SEMrush
Holdings,
Class
A (1)
4,318‌
39‌
Silvaco
Group (1)(2)
429‌
2‌
SoundHound
AI,
Class
A (1)
34,331‌
368‌
SoundThinking (1)
865‌
11‌
Sprinklr,
Class
A (1)
10,652‌
90‌
Sprout
Social,
Class
A (1)
4,846‌
101‌
SPS
Commerce (1)
3,570‌
486‌
Synchronoss
Technologies (1)
1,023‌
7‌
Telos (1)
4,986‌
16‌
Tenable
Holdings (1)
11,199‌
378‌
Terawulf (1)(2)
25,388‌
111‌
Varonis
Systems (1)
10,346‌
525‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
52
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Verint
Systems (1)
5,833‌
115‌
Vertex,
Class
A (1)
6,097‌
216‌
Viant
Technology,
Class
A (1)
1,291‌
17‌
Weave
Communications (1)
5,474‌
46‌
WM
Technology (1)
8,063‌
7‌
Workiva (1)
4,764‌
326‌
Xperi (1)
4,049‌
32‌
Yext (1)
9,629‌
82‌
Zeta
Global
Holdings,
Class
A (1)
17,640‌
273‌
15,207‌
Technology
Hardware,
Storage
&
Peripherals
 0.6%
CompoSecure,
Class
A (1)
4,125‌
58‌
Corsair
Gaming (1)
4,382‌
41‌
CPI
Card
Group (1)
473‌
11‌
Diebold
Nixdorf (1)
2,362‌
131‌
Eastman
Kodak (1)
5,494‌
31‌
Immersion 
2,733‌
22‌
IonQ (1)
22,233‌
955‌
Quantum
Computing (1)(2)
10,805‌
207‌
Turtle
Beach (1)
1,393‌
19‌
Xerox
Holdings (2)
11,093‌
59‌
1,534‌
Total
Information
Technology
34,874‌
MATERIALS
 3.8%
Chemicals
 1.7%
AdvanSix 
2,444‌
58‌
American
Vanguard 
2,358‌
9‌
Arq (1)
2,982‌
16‌
ASP
Isotopes (1)
4,996‌
37‌
Aspen
Aerogels (1)
6,226‌
37‌
Avient 
8,619‌
279‌
Balchem 
3,078‌
490‌
Cabot 
5,085‌
381‌
Chemours 
14,124‌
162‌
Core
Molding
Technologies (1)
714‌
12‌
Danimer
Scientific,
Warrants,
7/15/25 (1)
1,921‌
—‌
Ecovyst (1)
10,101‌
83‌
Flotek
Industries (1)
1,341‌
20‌
Ginkgo
Bioworks
Holdings (1)(2)
3,651‌
41‌
Hawkins 
1,831‌
260‌
HB
Fuller 
5,110‌
307‌
Ingevity (1)
3,388‌
146‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
53
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Innospec 
2,355‌
198‌
Intrepid
Potash (1)
987‌
35‌
Koppers
Holdings 
1,783‌
57‌
Kronos
Worldwide 
1,871‌
12‌
LSB
Industries (1)
4,824‌
38‌
Mativ
Holdings 
4,903‌
33‌
Minerals
Technologies 
2,994‌
165‌
Orion 
5,122‌
54‌
Perimeter
Solutions (1)
13,048‌
182‌
PureCycle
Technologies (1)(2)
12,174‌
167‌
Quaker
Chemical 
1,287‌
144‌
Rayonier
Advanced
Materials (1)
5,896‌
23‌
Sensient
Technologies 
3,962‌
390‌
Solesence (1)
1,781‌
8‌
Stepan 
2,021‌
110‌
Trinseo 
3,215‌
10‌
Tronox
Holdings 
10,741‌
54‌
Valhi 
173‌
3‌
4,021‌
Construction
Materials
 0.2%
Knife
River (1)
5,361‌
438‌
Smith-Midland (1)
251‌
8‌
Titan
America 
2,284‌
29‌
United
States
Lime
&
Minerals 
1,015‌
101‌
576‌
Containers
&
Packaging
 0.3%
Ardagh
Metal
Packaging 
13,199‌
56‌
Greif,
Class
A 
2,376‌
154‌
Greif,
Class
B 
429‌
30‌
Myers
Industries 
3,348‌
49‌
O-I
Glass (1)
14,315‌
211‌
Ranpak
Holdings (1)
3,682‌
13‌
TriMas 
3,108‌
89‌
602‌
Metals
&
Mining
 1.5%
Alpha
Metallurgical
Resources (1)
1,098‌
124‌
American
Battery
Technology (1)
7,668‌
12‌
Ascent
Industries (1)
753‌
9‌
Caledonia
Mining 
1,533‌
30‌
Century
Aluminum (1)
5,024‌
91‌
Coeur
Mining (1)
60,027‌
532‌
Commercial
Metals 
10,589‌
518‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
54
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Compass
Minerals
International (1)
3,164‌
64‌
Constellium (1)
13,343‌
177‌
Contango
ORE (1)(2)
1,000‌
19‌
Critical
Metals (1)(2)
3,041‌
11‌
Dakota
Gold (1)
8,087‌
30‌
Ferroglobe 
11,223‌
41‌
Friedman
Industries 
629‌
10‌
Hecla
Mining 
56,248‌
337‌
Idaho
Strategic
Resources (1)
1,183‌
15‌
Ivanhoe
Electric (1)
8,047‌
73‌
Kaiser
Aluminum 
1,508‌
120‌
Lifezone
Metals (1)(2)
2,990‌
12‌
MAC
Copper,
Class
A (1)
6,693‌
81‌
Materion 
1,910‌
152‌
Metallus (1)
3,430‌
53‌
NioCorp
Developments (1)
4,885‌
11‌
Novagold
Resources (1)
23,187‌
95‌
Olympic
Steel 
895‌
29‌
Perpetua
Resources (1)(2)
4,319‌
52‌
Piedmont
Lithium (1)(2)
1,672‌
10‌
Radius
Recycling 
2,518‌
75‌
Ramaco
Resources,
Class
A (2)
3,340‌
44‌
Ryerson
Holding 
2,436‌
53‌
SSR
Mining (1)
18,971‌
242‌
SunCoke
Energy 
7,969‌
68‌
Tredegar (1)
2,733‌
24‌
U.S.
Antimony (1)
8,614‌
19‌
U.S.
Gold (1)
1,038‌
13‌
U.S.
Goldmining (1)
152‌
1‌
Vox
Royalty 
3,784‌
12‌
Warrior
Met
Coal 
4,886‌
224‌
Worthington
Steel 
3,105‌
93‌
3,576‌
Paper
&
Forest
Products
 0.1%
Clearwater
Paper (1)
1,571‌
43‌
Magnera (1)
3,125‌
37‌
Sylvamo 
3,213‌
161‌
241‌
Total
Materials
9,016‌
REAL
ESTATE
 6.0%
Diversified
Real
Estate
Investment
Trusts
 0.6%
Alexander
&
Baldwin,
REIT 
6,798‌
121‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
55
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Alpine
Income
Property
Trust,
REIT 
1,157‌
17‌
American
Assets
Trust,
REIT 
4,878‌
96‌
Armada
Hoffler
Properties,
REIT 
7,162‌
49‌
Broadstone
Net
Lease,
REIT 
17,786‌
286‌
CTO
Realty
Growth,
REIT 
2,858‌
49‌
Essential
Properties
Realty
Trust,
REIT 
18,627‌
594‌
Gladstone
Commercial,
REIT 
4,295‌
62‌
Global
Net
Lease,
REIT 
18,673‌
141‌
Modiv
Industrial,
REIT 
882‌
13‌
NexPoint
Diversified
Real
Estate
Trust,
REIT 
3,051‌
13‌
One
Liberty
Properties,
REIT 
1,722‌
41‌
1,482‌
Health
Care
Real
Estate
Investment
Trusts
 1.0%
American
Healthcare
REIT,
REIT 
14,925‌
548‌
CareTrust
REIT,
REIT 
17,711‌
542‌
Community
Healthcare
Trust,
REIT 
2,489‌
41‌
Diversified
Healthcare
Trust,
REIT 
19,952‌
71‌
Global
Medical
REIT,
REIT 
5,628‌
39‌
LTC
Properties,
REIT 
4,267‌
148‌
National
Health
Investors,
REIT 
4,333‌
304‌
Sabra
Health
Care
REIT,
REIT 
22,289‌
411‌
Sila
Realty
Trust,
REIT 
5,218‌
124‌
Strawberry
Fields
REIT,
REIT 
782‌
8‌
Universal
Health
Realty
Income
Trust,
REIT 
1,163‌
47‌
2,283‌
Hotel
&
Resort
Real
Estate
Investment
Trusts
 0.6%
Apple
Hospitality
REIT,
REIT 
20,911‌
244‌
Braemar
Hotels
&
Resorts,
REIT 
5,746‌
14‌
Chatham
Lodging
Trust,
REIT 
4,377‌
31‌
DiamondRock
Hospitality,
REIT 
19,223‌
147‌
Pebblebrook
Hotel
Trust,
REIT 
10,837‌
108‌
RLJ
Lodging
Trust,
REIT 
13,616‌
99‌
Ryman
Hospitality
Properties,
REIT 
5,515‌
544‌
Service
Properties
Trust,
REIT 
14,941‌
36‌
Summit
Hotel
Properties,
REIT 
10,303‌
52‌
Sunstone
Hotel
Investors,
REIT 
18,042‌
157‌
Xenia
Hotels
&
Resorts,
REIT 
9,526‌
120‌
1,552‌
Industrial
Real
Estate
Investment
Trusts
 0.4%
Industrial
Logistics
Properties
Trust,
REIT 
5,775‌
26‌
Innovative
Industrial
Properties,
REIT 
2,620‌
145‌
LXP
Industrial
Trust,
REIT 
27,334‌
226‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
56
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Plymouth
Industrial
REIT,
REIT 
3,850‌
62‌
Terreno
Realty,
REIT 
9,587‌
537‌
996‌
Office
Real
Estate
Investment
Trusts
 0.7%
Brandywine
Realty
Trust,
REIT 
16,158‌
69‌
City
Office
REIT,
REIT 
3,577‌
19‌
COPT
Defense
Properties,
REIT 
10,685‌
295‌
Douglas
Emmett,
REIT 
15,189‌
228‌
Easterly
Government
Properties,
REIT 
3,795‌
84‌
Empire
State
Realty
Trust,
Class
A,
REIT 
12,947‌
105‌
Franklin
Street
Properties,
REIT 
9,111‌
15‌
Hudson
Pacific
Properties,
REIT (2)
29,213‌
80‌
JBG
SMITH
Properties,
REIT (2)
6,914‌
120‌
NET
Lease
Office
Properties,
REIT (1)
1,355‌
44‌
Paramount
Group,
REIT 
17,520‌
107‌
Peakstone
Realty
Trust,
REIT (2)
3,331‌
44‌
Piedmont
Realty
Trust,
Class
A,
REIT 
11,753‌
86‌
Postal
Realty
Trust,
Class
A,
REIT 
2,024‌
30‌
SL
Green
Realty,
REIT 
6,736‌
417‌
1,743‌
Real
Estate
Management
&
Development
 0.6%
American
Realty
Investors (1)(2)
57‌
1‌
Anywhere
Real
Estate (1)
9,911‌
36‌
Compass,
Class
A (1)
42,729‌
268‌
Cushman
&
Wakefield (1)
21,705‌
240‌
Douglas
Elliman (1)
6,907‌
16‌
eXp
World
Holdings 
7,842‌
72‌
Forestar
Group (1)
1,747‌
35‌
FRP
Holdings (1)
1,160‌
31‌
Kennedy-Wilson
Holdings 
11,350‌
77‌
Logistic
Properties
Of
The
Americas (1)(2)
295‌
2‌
Marcus
&
Millichap 
2,249‌
69‌
Maui
Land
&
Pineapple (1)
611‌
11‌
Newmark
Group,
Class
A 
12,781‌
155‌
RE/MAX
Holdings,
Class
A (1)
1,531‌
13‌
Real
Brokerage (1)
9,956‌
45‌
RMR
Group,
Class
A 
1,304‌
21‌
Seaport
Entertainment
Group (1)
704‌
13‌
St.
Joe 
3,570‌
170‌
Stratus
Properties (1)(2)
630‌
12‌
Tejon
Ranch (1)
1,890‌
32‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
57
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Transcontinental
Realty
Investors (1)
179‌
8‌
1,327‌
Residential
Real
Estate
Investment
Trusts
 0.4%
Apartment
Investment
&
Management,
Class
A,
REIT 
6,996‌
61‌
BRT
Apartments,
REIT 
1,079‌
17‌
Centerspace,
REIT 
1,581‌
95‌
Clipper
Realty,
REIT 
737‌
3‌
Elme
Communities,
REIT 
8,202‌
130‌
Independence
Realty
Trust,
REIT 
21,803‌
386‌
NexPoint
Residential
Trust,
REIT 
2,109‌
70‌
UMH
Properties,
REIT 
7,320‌
123‌
Veris
Residential,
REIT 
7,339‌
109‌
994‌
Retail
Real
Estate
Investment
Trusts
 1.2%
Acadia
Realty
Trust,
REIT 
12,374‌
230‌
Alexander's,
REIT 
197‌
44‌
CBL
&
Associates
Properties,
REIT 
1,705‌
43‌
Curbline
Properties,
REIT 
9,128‌
208‌
FrontView,
REIT 
1,665‌
20‌
Getty
Realty,
REIT (2)
4,866‌
135‌
InvenTrust
Properties,
REIT 
7,316‌
201‌
Kite
Realty
Group
Trust,
REIT 
20,704‌
469‌
Macerich,
REIT 
23,810‌
385‌
NETSTREIT,
REIT 
7,654‌
130‌
Phillips
Edison,
REIT 
11,838‌
415‌
Saul
Centers,
REIT 
1,155‌
39‌
SITE
Centers,
REIT 
4,545‌
51‌
Tanger,
REIT 
10,478‌
320‌
Urban
Edge
Properties,
REIT 
11,927‌
223‌
Whitestone
REIT,
REIT 
4,455‌
56‌
2,969‌
Specialized
Real
Estate
Investment
Trusts
 0.5%
Farmland
Partners,
REIT (2)
3,990‌
46‌
Four
Corners
Property
Trust,
REIT (2)
9,356‌
252‌
Gladstone
Land,
REIT (2)
3,039‌
31‌
Outfront
Media,
REIT 
13,326‌
218‌
PotlatchDeltic,
REIT 
7,334‌
281‌
Safehold,
REIT 
5,267‌
82‌
Smartstop
Self
Storage
REIT 
2,654‌
96‌
Uniti
Group,
REIT 
22,040‌
95‌
1,101‌
Total
Real
Estate
14,447‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
58
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
TRUSTS
&
FUNDS
 0.1%
Trusts
&
Mutual
Funds
 0.1%
iShares
Russell
2000
ETF 
1,107‌
239‌
Total
Trusts
&
Funds
239‌
UTILITIES
 3.2%
Electric
Utilities
 1.1%
ALLETE 
5,486‌
352‌
Genie
Energy,
Class
B 
1,996‌
54‌
Hawaiian
Electric
Industries (1)
16,111‌
171‌
MGE
Energy 
3,460‌
306‌
Oklo (1)
9,623‌
539‌
Otter
Tail 
3,611‌
278‌
Portland
General
Electric 
10,336‌
420‌
TXNM
Energy 
8,690‌
489‌
2,609‌
Gas
Utilities
 1.1%
Brookfield
Infrastructure,
Class
A 
11,294‌
470‌
Chesapeake
Utilities 
2,144‌
258‌
New
Jersey
Resources 
9,472‌
424‌
Northwest
Natural
Holding 
3,794‌
151‌
ONE
Gas 
5,615‌
403‌
RGC
Resources 
771‌
17‌
Southwest
Gas
Holdings 
6,070‌
452‌
Spire 
5,408‌
395‌
2,570‌
Independent
Power
&
Renewable
Electricity
Producers
 0.2%
Hallador
Energy (1)
2,914‌
46‌
Montauk
Renewables (1)
5,931‌
13‌
Ormat
Technologies 
5,724‌
480‌
539‌
Multi-Utilities
 0.4%
Avista 
7,550‌
287‌
Black
Hills 
6,816‌
382‌
Northwestern
Energy
Group 
5,750‌
295‌
Unitil 
1,523‌
79‌
1,043‌
Water
Utilities
 0.4%
American
States
Water 
3,627‌
278‌
Cadiz (1)
5,179‌
15‌
California
Water
Service
Group 
5,567‌
253‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
59
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Consolidated
Water 
1,375‌
41‌
Global
Water
Resources 
887‌
9‌
H2O
America 
2,981‌
155‌
Middlesex
Water 
1,673‌
91‌
Pure
Cycle (1)
1,731‌
19‌
York
Water 
1,303‌
41‌
902‌
Total
Utilities
7,663‌
Total
Common
Stocks
(Cost
$230,433)
238,647‌
SHORT-TERM
INVESTMENTS
 0.3%
Money
Market
Funds
 0.2%
T.
Rowe
Price
Government
Reserve
Fund,
4.37% (4)(5)
439,006‌
439‌
439‌
U.S.
Treasury
Obligations
 0.1%
U.S.
Treasury
Bills,
4.225%,
7/10/25 (6)
265,000‌
265‌
265‌
Total
Short-Term
Investments
(Cost
$704)
704‌
SECURITIES
LENDING
COLLATERAL
 3.2%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY 3.2%
Money
Market
Funds 3.2%
T.
Rowe
Price
Government
Reserve
Fund,
4.37% (4)(5)
7,780,964‌
7,781‌
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
and
Trust
Company
7,781‌
Total
Securities
Lending
Collateral
(Cost
$7,781)
7,781‌
Total
Investments
in
Securities
102.3%
of
Net
Assets
(Cost
$238,918)
$
247,132‌
‡
Shares/Par
and
Notional
Amount
are
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
Non-income
producing
(2)
See
Note
4
.
All
or
a
portion
of
this
security
is
on
loan
at
June
30,
2025.
T.
ROWE
PRICE
Small-Cap
Index
Fund
60
.
.
.
.
.
.
.
.
.
.
(3)
See
Note
2.
Level
3
in
fair
value
hierarchy.
(4)
Seven-day
yield
(5)
Affiliated
Companies
(6)
At
June
30,
2025,
all
or
a
portion
of
this
security
is
pledged
as
collateral
and/
or
margin
deposit
to
cover
future
funding
obligations.
CVR
Contingent
Value
Rights
ETF
Exchange-Traded
Fund
REIT
A
domestic
Real
Estate
Investment
Trust
whose
distributions
pass-through
with
original
tax
character
to
the
shareholder
T.
ROWE
PRICE
Small-Cap
Index
Fund
61
FUTURES
CONTRACTS
($000s)
Expiration
Date
Notional
Amount
Value
and
Unrealized
Gain
(Loss)
Long,
9
Russell
2000
E-Mini
Index
contracts
9/25
986
$
4‌
Net
payments
(receipts)
of
variation
margin
to
date
5‌
Variation
margin
receivable
(payable)
on
open
futures
contracts
$
9‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
62
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
AFFILIATED
COMPANIES
($000s)
The
fund
may
invest
in
certain
securities
that
are
considered
affiliated
companies.
As
defined
by
the
1940
Act,
an
affiliated
company
is
one
in
which
the
fund
owns
5%
or
more
of
the
outstanding
voting
securities,
or
a
company
that
is
under
common
ownership
or
control.
The
following
securities
were
considered
affiliated
companies
for
all
or
some
portion
of
the
six
months
ended
June
30,
2025.
Net
realized
gain
(loss),
investment
income,
change
in
net
unrealized
gain/loss,
and
purchase
and
sales
cost
reflect
all
activity
for
the
period
then
ended.
Affiliate
Net
Realized
Gain
(Loss)
Change
in
Net
Unrealized
Gain/Loss
Investment
Income
T.
Rowe
Price
Government
Reserve
Fund,
4.37%
$
—‌
$
—‌
$
25‌++
Totals
$
—‌#
$
—‌
$
25‌+
Supplementary
Investment
Schedule
Affiliate
Value
12/31/24
Purchase
Cost
Sales
Cost
Value
6/30/25
T.
Rowe
Price
Government
Reserve
Fund,
4.37%
$
13,337‌
 ¤
 ¤
$
8,220‌
Total
$
8,220‌^
#
Capital
gain
distributions
from
underlying
Price
funds
represented
$0
of
the
net
realized
gain
(loss).
++
Excludes
earnings
on
securities
lending
collateral,
which
are
subject
to
rebates
and
fees
as
described
in
Note
4
.
+
Investment
income
comprised
$25
of
dividend
income
and
$0
of
interest
income.
¤
Purchase
and
sale
information
not
shown
for
cash
management
funds.
^
The
cost
basis
of
investments
in
affiliated
companies
was
$8,220.
T.
ROWE
PRICE
Small-Cap
Index
Fund
June
30,
2025
(Unaudited)
Statement
of
Assets
and
Liabilities
63
($000s,
except
shares
and
per
share
amounts)
Assets
Investments
in
securities,
at
value
(cost
$238,918)
$
247,132‌
Receivable
for
shares
sold
2,062‌
Cash
386‌
Dividends
receivable
227‌
Receivable
for
investment
securities
sold
128‌
Due
from
affiliates
13‌
Variation
margin
receivable
on
futures
contracts
9‌
Other
assets
17‌
Total
assets
249,974‌
Liabilities
Obligation
to
return
securities
lending
collateral
7,781‌
Payable
for
investment
securities
purchased
501‌
Payable
for
shares
redeemed
71‌
Investment
management
fees
payable
17‌
Other
liabilities
64‌
Total
liabilities
8,434‌
Commitments
and
Contingent
Liabilities
(note
7
)
NET
ASSETS
$
241,540‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
June
30,
2025
(Unaudited)
Statement
of
Assets
and
Liabilities
64
($000s,
except
shares
and
per
share
amounts)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Net
Assets
Consist
of:
Total
distributable
earnings
(loss)
$
7,914‌
Paid-in
capital
applicable
to
15,714,599
shares
of
$0.0001
par
value
capital
stock
outstanding;
2,000,000,000
shares
of
the
Corporation
authorized
233,626‌
NET
ASSETS
$
241,540‌
NET
ASSET
VALUE
PER
SHARE
Investor
Class
(Net
assets:
$97;
Shares
outstanding:
6,307)
$
15.31‌
I
Class
(Net
assets:
$136,170;
Shares
outstanding:
8,860,977)
$
15.37‌
Z
Class
(Net
assets:
$105,273;
Shares
outstanding:
6,847,315)
$
15.37‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Statement
of
Operations
65
($000s)
6
Months
Ended
6/30/25
Investment
Income
(Loss)
Income
Dividend
(net
of
foreign
taxes
of
$2)
$
1,320‌
Securities
lending
71‌
.
  Interest
5‌
Other
2‌
Total
income
1,398‌
Expenses
Investment
management
97‌
Shareholder
servicing
I
Class
23‌
Prospectus
and
shareholder
reports
I
Class
$
2‌
Z
Class
2‌
4‌
Custody
and
accounting
136‌
Legal
and
audit
21‌
Miscellaneous
9‌
Waived
/
paid
by
Price
Associates
(
199‌
)
Total
expenses
91‌
Net
investment
income
1,307‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Statement
of
Operations
66
($000s)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
6
Months
Ended
6/30/25
Realized
and
Unrealized
Gain
/
Loss
–
Net
realized
gain
(loss)
Securities
1,434‌
Futures
69‌
Net
realized
gain
1,503‌
Change
in
net
unrealized
gain
/
loss
Securities
(
5,196‌
)
Futures
6‌
Change
in
net
unrealized
gain
/
loss
(
5,190‌
)
Net
realized
and
unrealized
gain
/
loss
(
3,687‌
)
DECREASE
IN
NET
ASSETS
FROM
OPERATIONS
$
(
2,380‌
)
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Statement
of
Changes
in
Net
Assets
67
($000s)
6
Months
Ended
6/30/25
Year
Ended
12/31/24
Increase
(Decrease)
in
Net
Assets
Operations
Net
investment
income
$
1,307‌
$
2,539‌
Net
realized
gain
1,503‌
3,691‌
Change
in
net
unrealized
gain
/
loss
(
5,190‌
)
12,907‌
Increase
(decrease)
in
net
assets
from
operations
(
2,380‌
)
19,137‌
Distributions
to
shareholders
Net
earnings
Investor
Class
–‌
(
3‌
)
I
Class
–‌
(
4,053‌
)
Z
Class
–‌
(
2,351‌
)
Decrease
in
net
assets
from
distributions
–‌
(
6,407‌
)
Capital
share
transactions
*
Shares
sold
I
Class
15,272‌
18,791‌
Z
Class
40,066‌
48,436‌
Distributions
reinvested
I
Class
–‌
4,053‌
Z
Class
–‌
2,351‌
Shares
redeemed
Investor
Class
–‌
(
99‌
)
I
Class
(
9,682‌
)
(
12,097‌
)
Z
Class
(
8,115‌
)
(
16,245‌
)
Increase
in
net
assets
from
capital
share
transactions
37,541‌
45,190‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Statement
of
Changes
in
Net
Assets
68
($000s)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
6
Months
Ended
6/30/25
Year
Ended
12/31/24
Net
Assets
Increase
during
period
35,161‌
57,920‌
Beginning
of
period
206,379‌
148,459‌
End
of
period
$
241,540‌
$
206,379‌
*Share
information
(000s)
Shares
sold
I
Class
1,079‌
1,249‌
Z
Class
2,655‌
3,152‌
Distributions
reinvested
I
Class
–‌
245‌
Z
Class
–‌
142‌
Shares
redeemed
Investor
Class
–‌
(
6‌
)
I
Class
(
656‌
)
(
804‌
)
Z
Class
(
549‌
)
(
1,056‌
)
Increase
in
shares
outstanding
2,529‌
2,922‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
Unaudited
NOTES
TO
FINANCIAL
STATEMENTS
69
T.
Rowe
Price
Index
Trust,
Inc. (the
corporation)
is
registered
under
the
Investment
Company
Act
of
1940
(the
1940
Act).
The
Small-Cap
Index
Fund
(the
fund)
is
an
open-end
management
investment
company
established
by
the
corporation
and
intends
to
be
diversified
in
approximately
the
same
proportion
as
the
index
it
tracks
is
diversified.
The
fund
may
become
nondiversified
for
periods
of
time
solely
as
a
result
of
changes
in
the
composition
of
the
index
(for
example,
changes
in
the
relative
market
capitalization
or
index
weighting
of
one
or
more
securities
represented
in
the
index). The
fund
seeks to
track
the
performance
of
a
benchmark
index
that
measures
the
investment
return
of
small-capitalization
U.S.
stocks. The
fund
is
available
for
investment
only
by
mutual
funds,
college
savings
plans,
and
other
institutional
client
accounts
managed
by
T.
Rowe
Price
Associates,
Inc.,
or
its
affiliates
and
is
not
available
for
direct
purchase
by
members
of
the
public.
The
fund
has three classes
of
shares:
the
Small-Cap
Index
Fund
(Investor
Class),
the
Small-Cap
Index
Fund–I
Class
(I
Class)
and
the
Small-Cap
Index
Fund–Z
Class
(Z
Class).
I
Class
shares
require
a
$500,000
initial
investment
minimum,
although
the
minimum
generally
is
waived
or
reduced
for
financial
intermediaries,
eligible
retirement
plans,
and
certain
other
accounts.
The
Z
Class
is
only
available
to
funds
advised
by
T.
Rowe
Price
Associates,
Inc.
and
its
affiliates
and
other
clients
that
are
subject
to
a
contractual
fee
for
investment
management
services. Each
class
has
exclusive
voting
rights
on
matters
related
solely
to
that
class;
separate
voting
rights
on
matters
that
relate
to
all
classes;
and,
in
all
other
respects,
the
same
rights
and
obligations
as
the
other
classes. 
NOTE
1
-
SIGNIFICANT
ACCOUNTING
POLICIES 
Basis
of
Preparation
 The fund
is
an
investment
company
and
follows
accounting
and
reporting
guidance
in
the
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946
(ASC
946).
The
accompanying
financial
statements
were
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(GAAP),
including,
but
not
limited
to,
ASC
946.
GAAP
requires
the
use
of
estimates
made
by
management.
Management
believes
that
estimates
and
valuations
are
appropriate;
however,
actual
results
may
differ
from
those
estimates,
and
the
valuations
reflected
in
the
accompanying
financial
statements
may
differ
from
the
value
ultimately
realized
upon
sale
or
maturity.
T.
ROWE
PRICE
Small-Cap
Index
Fund
70
Investment
Transactions,
Investment
Income,
and
Distributions
 Investment
transactions
are
accounted
for
on
the
trade
date
basis.
Income
and
expenses
are
recorded
on
the
accrual
basis.
Realized
gains
and
losses
are
reported
on
the
identified
cost
basis. Premiums
and
discounts
on
debt
securities
are
amortized
for
financial
reporting
purposes. Income
tax-related
interest
and
penalties,
if
incurred,
are
recorded
as
income
tax
expense. Dividends
received
from other
investment
companies are
reflected
as
dividend income;
capital
gain
distributions
are
reflected
as
realized
gain/loss. Dividend
income and
capital
gain
distributions
are
recorded
on
the
ex-dividend
date. Distributions
from
REITs
are
initially
recorded
as
dividend
income
and,
to
the
extent
such
represent
a
return
of
capital
or
capital
gain
for
tax
purposes,
are
reclassified
when
such
information
becomes
available. Non-cash
dividends,
if
any,
are
recorded
at
the
fair
market
value
of
the
asset
received. Proceeds
from
litigation
payments,
if
any,
are
included
in
either
net
realized
gain
(loss)
or
change
in
net
unrealized
gain/loss
from
securities. Distributions
to
shareholders
are
recorded
on
the
ex-dividend
date. Income
distributions,
if
any,
are
declared
and
paid
by
each
class annually. A
capital
gain
distribution,
if
any, may
also
be
declared
and
paid
by
the
fund
annually.
Class
Accounting
 Shareholder
servicing,
prospectus,
and
shareholder
report
expenses
incurred
by
each
class
are
charged
directly
to
the
class
to
which
they
relate.
Expenses
common
to
all
classes,
investment
income,
and
realized
and
unrealized
gains
and
losses
are
allocated
to
the
classes
based
upon
the
relative
daily
net
assets
of
each
class.
Capital
Transactions
 Each
investor’s
interest
in
the
net
assets
of the
fund
is
represented
by
fund
shares. The
fund’s
net
asset
value
(NAV)
per
share
is
computed
at
the
close
of
the
New
York
Stock
Exchange
(NYSE),
normally
4
p.m.
Eastern
time,
each
day
the
NYSE
is
open
for
business.
However,
the
NAV
per
share
may
be
calculated
at
a
time
other
than
the
normal
close
of
the
NYSE
if
trading
on
the
NYSE
is
restricted,
if
the
NYSE
closes
earlier,
or
as
may
be
permitted
by
the
SEC.
Purchases
and
redemptions
of
fund
shares
are
transacted
at
the
next-computed
NAV
per
share,
after
receipt
of
the
transaction
order
by
T.
Rowe
Price
Associates,
Inc.,
or
its
agents.
New
Accounting
Guidance
 In December
2023,
the
FASB
issued
Accounting
Standards
Update
(ASU),
ASU
2023-09,
Income
Taxes
(Topic
740)
–
Improvements
to
Income
Taxes
Disclosures,
which
enhances
the
transparency
of
income
tax
disclosures.
The
ASU
requires
public
entities,
on
an
annual
basis,
to
provide
disclosure
of
specific
categories
in
the
rate
reconciliation,
as
well
as
disclosure
of
income
taxes
paid
disaggregated
by
jurisdiction.
The
amendments
T.
ROWE
PRICE
Small-Cap
Index
Fund
71
under
this
ASU
are
required
to
be
applied
prospectively
and
are
effective
for
fiscal
years
beginning
after
December
15,
2024.
Management
expects
that
adoption
of
the
guidance
will
not
have
a
material
impact
on
the
fund’s
financial
statements.
Indemnification
 In
the
normal
course
of
business, the
fund
may
provide
indemnification
in
connection
with
its
officers
and
directors,
service
providers,
and/or
private
company
investments. The
fund’s
maximum
exposure
under
these
arrangements
is
unknown;
however,
the
risk
of
material
loss
is
currently
considered
to
be
remote.
NOTE
2
-
VALUATION 
Fair
Value
  The
fund’s
financial
instruments
are
valued
at
the
close
of
the
NYSE
and
are
reported
at
fair
value,
which
GAAP
defines
as
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
at
the
measurement
date. The fund’s
Board
of
Directors
(the
Board)
has
designated
T.
Rowe
Price
Associates,
Inc.
as
the
fund’s
valuation
designee
(Valuation
Designee).
Subject
to
oversight
by
the
Board,
the
Valuation
Designee
performs
the
following
functions
in
performing
fair
value
determinations:
assesses
and
manages
valuation
risks;
establishes
and
applies
fair
value
methodologies;
tests
fair
value
methodologies;
and
evaluates
pricing
vendors
and
pricing
agents.
The
duties
and
responsibilities
of
the
Valuation
Designee
are
performed
by
its
Valuation
Committee. The
Valuation
Designee provides
periodic
reporting
to
the
Board
on
valuation
matters.
Various
valuation
techniques
and
inputs
are
used
to
determine
the
fair
value
of
financial
instruments.
GAAP
establishes
the
following
fair
value
hierarchy
that
categorizes
the
inputs
used
to
measure
fair
value:
Level
1
–
quoted
prices
(unadjusted)
in
active
markets
for
identical
financial
instruments
that
the
fund
can
access
at
the
reporting
date
Level
2
–
inputs
other
than
Level
1
quoted
prices
that
are
observable,
either
directly
or
indirectly
(including,
but
not
limited
to,
quoted
prices
for
similar
financial
instruments
in
active
markets,
quoted
prices
for
identical
or
similar
financial
instruments
in
inactive
markets,
interest
rates
and
yield
curves,
implied
volatilities,
and
credit
spreads)
Level
3
–
unobservable
inputs
(including
the Valuation
Designee’s assumptions
in
determining
fair
value)
T.
ROWE
PRICE
Small-Cap
Index
Fund
72
Observable
inputs
are
developed
using
market
data,
such
as
publicly
available
information
about
actual
events
or
transactions,
and
reflect
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
Unobservable
inputs
are
those
for
which
market
data
are
not
available
and
are
developed
using
the
best
information
available
about
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
GAAP
requires
valuation
techniques
to
maximize
the
use
of
relevant
observable
inputs
and
minimize
the
use
of
unobservable
inputs.
When
multiple
inputs
are
used
to
derive
fair
value,
the
financial
instrument
is
assigned
to
the
level
within
the
fair
value
hierarchy
based
on
the
lowest-level
input
that
is
significant
to
the
fair
value
of
the
financial
instrument.
Input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level
but
rather
the
degree
of
judgment
used
in
determining
those
values.
Valuation
Techniques 
Equity
securities,
including
exchange-traded
funds, listed
or
regularly
traded
on
a
securities
exchange
or
in
the
over-the-
counter
(OTC)
market
are
valued
at
the
last
quoted
sale
price
or,
for
certain
markets,
the
official
closing
price
at
the
time
the
valuations
are
made.
OTC
Bulletin
Board
securities
are
valued
at
the
mean
of
the
closing
bid
and
asked
prices.
A
security
that
is
listed
or
traded
on
more
than
one
exchange
is
valued
at
the
quotation
on
the
exchange
determined
to
be
the
primary
market
for
such
security.
Listed
securities
not
traded
on
a
particular
day
are
valued
at
the
mean
of
the
closing
bid
and
asked
prices
for
domestic
securities.
Debt
securities
generally
are
traded
in
the over-the-counter
(OTC)
market
and
are
valued
at
prices
furnished
by
independent
pricing
services
or
by
broker
dealers
who
make
markets
in
such
securities.
When
valuing
securities,
the
independent
pricing
services
consider
factors
such
as,
but
not
limited
to,
the
yield
or
price
of
bonds
of
comparable
quality,
coupon,
maturity,
and
type,
as
well
as
prices
quoted
by
dealers
who
make
markets
in
such
securities.
Investments
in
mutual
funds
are
valued
at
the
mutual
fund’s
closing
NAV
per
share
on
the
day
of
valuation.
Futures
contracts
are
valued
at
closing
settlement
prices.
 Assets
and
liabilities
other
than
financial
instruments,
including
short-
term
receivables
and
payables,
are
carried
at
cost,
or
estimated
realizable
value,
if
less,
which
approximates
fair
value. 
Investments
for
which
market
quotations are
not
readily
available
or
deemed
unreliable
are
valued
at
fair
value
as
determined
in
good
faith
by
the
Valuation
Designee.
The
Valuation
Designee
has
adopted
methodologies
for
determining
the
fair
value
of
investments
for
which
market
quotations
are
not
readily
available
or
deemed
unreliable,
including
the
use
of
other
pricing
T.
ROWE
PRICE
Small-Cap
Index
Fund
73
sources.
Factors
used
in
determining
fair
value
vary
by
type
of
investment
and
may
include
market
or
investment
specific
considerations.
The
Valuation
Designee typically
will
afford
greatest
weight
to
actual
prices
in
arm’s
length
transactions,
to
the
extent
they
represent
orderly
transactions
between
market
participants,
transaction
information
can
be
reliably
obtained,
and
prices
are
deemed
representative
of
fair
value.
However,
the
Valuation
Designee may
also
consider
other
valuation
methods
such
as
market-based
valuation
multiples;
a
discount
or
premium
from
market
value
of
a
similar,
freely
traded
security
of
the
same
issuer;
discounted
cash
flows;
yield
to
maturity;
or
some
combination.
Fair
value
determinations
are
reviewed
on
a
regular
basis.
Because
any
fair
value
determination
involves
a
significant
amount
of
judgment,
there
is
a
degree
of
subjectivity
inherent
in
such
pricing
decisions. Fair
value
prices
determined
by
the
Valuation
Designee could
differ
from
those
of
other
market
participants,
and
it
is
possible
that
the
fair
value
determined
for
a
security
may
be
materially
different
from
the
value
that
could
be
realized
upon
the
sale
of
that
security.
Valuation
Inputs
  The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
June
30,
2025
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments): 
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
238,605‌
$
29‌
$
13‌
$
238,647‌
Short-Term
Investments
439‌
265‌
—‌
704‌
Securities
Lending
Collateral
7,781‌
—‌
—‌
7,781‌
Total
Securities
246,825‌
294‌
13‌
247,132‌
Futures
Contracts*
4‌
—‌
—‌
4‌
Total
$
246,829‌
$
294‌
$
13‌
$
247,136‌
*
The
fair
value
presented
includes
cumulative
gain
(loss)
on
open
futures
contracts;
however,
the
net
value
reflected
on
the
accompanying
Portfolio
of
Investments
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
T.
ROWE
PRICE
Small-Cap
Index
Fund
74
NOTE
3
-
DERIVATIVE
INSTRUMENTS 
During
the
six
months ended
June
30,
2025,
the
fund
invested
in
derivative
instruments.
As
defined
by
GAAP,
a
derivative
is
a
financial
instrument
whose
value
is
derived
from
an
underlying
security
price,
foreign
exchange
rate,
interest
rate,
index
of
prices
or
rates,
or
other
variable;
it
requires
little
or
no
initial
investment
and
permits
or
requires
net
settlement
or
delivery
of
cash
or
other
assets.
The
fund
invests
in
derivatives
only
if
the
expected
risks
and
rewards
are
consistent
with
its
investment
objectives,
policies,
and
overall
risk
profile,
as
described
in
its
prospectus
and
Statement
of
Additional
Information.
The
fund
may
use
derivatives
for
a
variety
of
purposes
and
may
use
them
to
establish
both
long
and
short
positions
within
the
fund’s
portfolio.
Potential
uses
include
to
hedge
against
declines
in
principal
value,
increase
yield,
invest
in
an
asset
with
greater
efficiency
and
at
a
lower
cost
than
is
possible
through
direct
investment,
to
enhance
return,
or
to
adjust
credit
exposure.
The
risks
associated
with
the
use
of
derivatives
are
different
from,
and
potentially
much
greater
than,
the
risks
associated
with
investing
directly
in
the
instruments
on
which
the
derivatives
are
based.
The
fund
values
its
derivatives
at
fair
value
and
recognizes
changes
in
fair
value
currently
in
its
results
of
operations.
Accordingly,
the
fund
does
not
follow
hedge
accounting,
even
for
derivatives
employed
as
economic
hedges.
Generally,
the
fund
accounts
for
its
derivatives
on
a
gross
basis.
It
does
not
offset
the
fair
value
of
derivative
liabilities
against
the
fair
value
of
derivative
assets
on
its
financial
statements,
nor
does
it
offset
the
fair
value
of
derivative
instruments
against
the
right
to
reclaim
or
obligation
to
return
collateral.
The
following
table
summarizes
the
fair
value
of
the
fund’s
derivative
instruments
held
as
of
June
30,
2025,
and
the
related
location
on
the
accompanying
Statement
of
Assets
and
Liabilities,
presented
by
primary
underlying
risk
exposure: 
($000s)
Location
on
Statement
of
Assets
and
Liabilities
Fair
Value*
Assets
Equity
derivatives
Futures
$
4‌
*
Total
$
4‌
*
The
fair
value
presented
includes
cumulative
gain
(loss)
on
open
futures
contracts;
however,
the
value
reflected
on
the
accompanying
Statement
of
Assets
and
Liabilities
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
T.
ROWE
PRICE
Small-Cap
Index
Fund
75
Additionally,
the
amount
of
gains
and
losses
on
derivative
instruments
recognized
in
fund
earnings
during
the
six
months ended
June
30,
2025,
and
the
related
location
on
the
accompanying
Statement
of
Operations
is
summarized
in
the
following
table
by
primary
underlying
risk
exposure: 
Counterparty
Risk
and
Collateral
 The
fund
invests
in
exchange-traded
and/or
centrally
cleared
derivative
contracts,
such
as
futures,
exchange-traded
options,
and
centrally
cleared
swaps.
Counterparty
risk
on
such
derivatives
is
minimal
because
the
clearinghouse
provides
protection
against
counterparty
defaults.
For
futures
and
centrally
cleared
swaps,
the
fund
is
required
to
deposit
collateral
in
an
amount
specified
by
the
clearinghouse
and
the
clearing
firm
(margin
requirement),
and
the
margin
requirement
must
be
maintained
over
the
life
of
the
contract.
Each
clearinghouse
and
clearing
firm,
in
its
sole
discretion,
may
adjust
the
margin
requirements
applicable
to
the
fund.
Collateral may
be
in
the
form
of
cash
or
debt
securities
issued
by
the
U.S.
government
or
related
agencies.
Cash
posted
by
the
fund
is
reflected
as
cash
deposits
in
the
accompanying
financial
statements
and
generally
is
restricted
from
withdrawal
by
the
fund;
securities
posted
by
the
fund
are
so
noted
in
the
accompanying
Portfolio
of
Investments;
both
remain
in
the
fund’s
assets.
While
typically
not
sold
in
the
same
manner
as
equity
or
fixed
income
securities,
exchange-traded
or
centrally
cleared
derivatives
may
be
closed
out
only
on
the
exchange
or
clearinghouse
where
the
contracts
were
cleared.
This
ability
is
subject
to
the
liquidity
of
underlying
positions. As
of
June
30,
2025,
securities
valued
at $76,000
had
been
posted
by
the
fund
for
exchange-traded
and/or
centrally
cleared
derivatives. 
($000s)                                              
Location
of
Gain
(Loss)
on
Statement
of
Operations
Futures
Realized
Gain
(Loss)
Equity
derivatives
$
69‌
Total
$
69‌
Change
in
Unrealized
Gain
(Loss)
Equity
derivatives
$
6‌
Total
$
6‌
T.
ROWE
PRICE
Small-Cap
Index
Fund
76
Futures
Contracts
 The
fund
is
subject
to equity
price
risk in
the
normal
course
of
pursuing
its
investment
objectives
and
uses
futures
contracts
to
help
manage
such
risk.
The
fund
may
enter
into
futures
contracts
as
an
efficient
means
of
maintaining
liquidity
while
being
invested
in
the
market,
to
facilitate
trading,
or
to
reduce
transaction
costs. A
futures
contract
provides
for
the
future
sale
by
one
party
and
purchase
by
another
of
a
specified
amount
of
a
specific
underlying
financial
instrument
at
an
agreed-upon
price,
date,
time,
and
place.
The
fund
currently
invests
only
in
exchange-traded
futures,
which
generally
are
standardized
as
to
maturity
date,
underlying
financial
instrument,
and
other
contract
terms.
Payments
are
made
or
received
by
the
fund
each
day
to
settle
daily
fluctuations
in
the
value
of
the
contract
(variation
margin),
which
reflect
changes
in
the
value
of
the
underlying
financial
instrument.
Variation
margin
is
recorded
as
unrealized
gain
or
loss
until
the
contract
is
closed.
The
value
of
a
futures
contract
included
in
net
assets
is
the
amount
of
unsettled
variation
margin;
net
variation
margin
receivable
is
reflected
as
an
asset
and
net
variation
margin
payable
is
reflected
as
a
liability
on
the
accompanying
Statement
of
Assets
and
Liabilities.
When
a
contract
is
closed,
a
realized
gain
or
loss
is
recorded
on
the
accompanying
Statement
of
Operations.
Risks
related
to
the
use
of
futures
contracts
include
possible
illiquidity
of
the
futures
markets,
contract
prices
that
can
be
highly
volatile
and
imperfectly
correlated
to
movements
in
hedged
security
values,
and
potential
losses
in
excess
of
the
fund’s
initial
investment.
During
the
six
months ended
June
30,
2025,
the
volume
of
the
fund’s
activity
in
futures,
based
on
underlying
notional
amounts,
was
generally
between
0%
and
2%
of
net
assets.
NOTE
4
-
OTHER
INVESTMENT
TRANSACTIONS 
Consistent
with
its
investment
objective, the
fund
engages
in
the
following
practices
to
manage
exposure
to
certain
risks
and/or
to
enhance
performance.
The
investment
objective,
policies,
program,
and
risk
factors
of the
fund
are
described
more
fully
in the
fund’s prospectus
and
Statement
of
Additional
Information.
Securities
Lending
 The fund
may
lend
its
securities
to
approved
borrowers
to
earn
additional
income.
Its
securities
lending
activities
are
administered
by
a
lending
agent
in
accordance
with
a
securities
lending
agreement.
Security
loans
generally
do
not
have
stated
maturity
dates,
and
the
fund
may
recall
a
security
at
any
time.
The
fund
receives
collateral
in
the
form
of
cash
or
U.S.
government
securities.
Collateral
is
maintained
over
the
life
of
the
loan
in
an
amount
not
less
than
the
value
of
loaned
securities;
any
additional
collateral
required
due
to
T.
ROWE
PRICE
Small-Cap
Index
Fund
77
changes
in
security
values
is
delivered
to
the
fund
the
next
business
day.
Cash
collateral
is
invested
in
accordance
with
investment
guidelines
approved
by
fund
management.
Additionally,
the
lending
agent
indemnifies
the
fund
against
losses
resulting
from
borrower
default.
Although
risk
is
mitigated
by
the
collateral
and
indemnification,
the
fund
could
experience
a
delay
in
recovering
its
securities
and
a
possible
loss
of
income
or
value
if
the
borrower
fails
to
return
the
securities,
collateral
investments
decline
in
value,
and
the
lending
agent
fails
to
perform.
Securities
lending
revenue
consists
of
earnings
on
invested
collateral
and
borrowing
fees,
net
of
any
rebates
to
the
borrower,
compensation
to
the
lending
agent,
and
other
administrative
costs.
In
accordance
with
GAAP,
investments
made
with
cash
collateral
are
reflected
in
the
accompanying
financial
statements,
but
collateral
received
in
the
form
of
securities
is
not.
At
June
30,
2025,
the
value
of
loaned
securities
was
$7,568,000,
including
securities
sold
but
not
yet
settled,
which
are
not
reflected
in
the
accompanying
Portfolio
of
Investments;
the
value
of
cash
collateral
and
related
investments
was
$7,781,000.
Other 
Purchases
and
sales
of
portfolio
securities
other
than
in-kind
transactions,
if
any,
and short-term securities
aggregated $67,330,000 and
$30,221,000,
respectively,
for
the
six
months ended
June
30,
2025. 
NOTE
5
-
FEDERAL
INCOME
TAXES
Generally,
no
provision
for
federal
income
taxes
is
required
since
the
fund
intends
to continue
to
qualify
as
a
regulated
investment
company
under
Subchapter
M
of
the
Internal
Revenue
Code
and
distribute
to
shareholders
all
of
its taxable
income
and
gains.
Distributions
determined
in
accordance
with
federal
income
tax
regulations
may
differ
in
amount
or
character
from
net
investment
income
and
realized
gains
for
financial
reporting
purposes.
Financial
reporting
records
are
adjusted
for
permanent
book/tax
differences
to
reflect
tax
character
but
are
not
adjusted
for
temporary
differences.
The
amount
and
character
of
tax-basis
distributions
and
composition
of
net
assets
are
finalized
at
fiscal
year-end;
accordingly,
tax-basis
balances
have
not
been
determined
as
of
the
date
of
this
report. 
At
June
30,
2025,
the
cost
of
investments
(including
derivatives,
if
any)
for
federal
income
tax
purposes
was
$241,577,000.
Net
unrealized
gain
aggregated
$5,559,000
at
period-end,
of
which
$41,427,000
related
to
appreciated
investments
and
$35,868,000
related
to
depreciated
investments.
T.
ROWE
PRICE
Small-Cap
Index
Fund
78
NOTE
6
-
FOREIGN TAXES
The
fund
is
subject
to
foreign
income
taxes
imposed
by
certain
countries
in
which
it
invests.
Additionally,
capital
gains
realized
upon
disposition
of
securities
issued
in
or
by
certain
foreign
countries
are
subject
to
capital
gains
tax
imposed
by
those
countries.
All
taxes
are
computed
in
accordance
with
the
applicable
foreign
tax
law,
and,
to
the
extent
permitted,
capital
losses
are
used
to
offset
capital
gains.
Taxes
attributable
to
income
are
accrued
by
the
fund
as
a
reduction
of
income.
Current
and
deferred
tax
expense
attributable
to
capital
gains
is
reflected
as
a
component
of
realized
or
change
in
unrealized
gain/
loss
on
securities
in
the
accompanying
financial
statements.
To
the
extent
that
the
fund
has
country
specific
capital
loss
carryforwards,
such
carryforwards
are
applied
against
net
unrealized
gains
when
determining
the
deferred
tax
liability.
Any
deferred
tax
liability
incurred
by
the
fund
is
included
in
either
Other
liabilities
or
Deferred
tax
liability
on
the
accompanying
Statement
of
Assets
and
Liabilities.
NOTE
7
-
RELATED
PARTY
TRANSACTIONS
The
fund
is
managed
by
T.
Rowe
Price
Associates,
Inc.
(Price
Associates),
a
wholly
owned
subsidiary
of
T.
Rowe
Price
Group,
Inc.
(Price
Group). Price
Associates
has
entered
into
a
sub-advisory
agreement(s)
with
one
or
more
of
its
wholly
owned
subsidiaries,
to
provide
investment
advisory
services
to
the
fund. The
investment
management
agreement
between
the
fund
and
Price
Associates
provides
for
an
annual
investment
management
fee
equal
to 0.09%
of
the
fund’s
average
daily
net
assets.
The
fee
is
computed
daily
and
paid
monthly.
The
Investor
Class
is
subject
to
a
contractual
expense
limitation
through
the
expense
limitation
date
indicated
in
the
table
below.
This
agreement
will
continue
through
the
expense
limitation
date
indicated
in
the
table
below,
and
may
be
renewed,
revised,
or
revoked
only
with
approval
of
the
fund’s
Board.
During
the
limitation
period,
Price
Associates
is required
to
waive
or
pay
any
expenses
(excluding
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage;
non-recurring,
extraordinary
expenses;
and
acquired
fund
fees
and
expenses)
that
would
otherwise
cause
the class’s ratio
of
annualized
total
expenses
to
average
net
assets
(net
expense
ratio)
to
exceed
its
expense
limitation.
The
class
is
required
to
repay
Price
Associates
for
expenses
previously
waived/paid
to
the
extent
the
class’s net
assets
grow
or
expenses
decline
sufficiently
to
allow
repayment
without
causing
the class’s net
expense
T.
ROWE
PRICE
Small-Cap
Index
Fund
79
ratio
(after
the
repayment
is
taken
into
account)
to
exceed
the
lesser
of:
(1)
the
expense
limitation
in
place
at
the
time
such
amounts
were
waived;
or
(2)
the class’s
current
expense
limitation.
However,
no
repayment
will
be
made
more
than
three
years
after
the
date
of
a
payment
or
waiver.
The
I
Class
is
also
subject
to
an
operating
expense
limitation
(I
Class
Limit)
pursuant
to
which
Price
Associates
is
contractually
required
to
pay
all
operating
expenses
of
the
I
Class,
excluding
management
fees;
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage; non-recurring,
extraordinary expenses; and
acquired
fund
fees
and
expenses, to
the
extent
such
operating
expenses,
on
an
annualized
basis,
exceed
the
I
Class
Limit. This
agreement
will
continue
through
the
expense
limitation
date
indicated
in
the
table
below,
and
may
be
renewed,
revised,
or
revoked
only
with
approval
of
the
fund’s
Board.
The
I
Class
is
required
to
repay
Price
Associates
for
expenses
previously
paid
to
the
extent
the
class’s
net
assets
grow
or
expenses
decline
sufficiently
to
allow
repayment
without
causing
the
class’s
operating
expenses
(after
the
repayment
is
taken
into
account)
to
exceed
the
lesser
of:
(1)
the
I
Class
Limit
in
place
at
the
time
such
amounts
were
paid;
or
(2)
the
current
I
Class
Limit.
However,
no
repayment
will
be
made
more
than
three
years
after
the
date
of
a
payment
or
waiver. 
The
Z
Class
is
also
subject
to
a
contractual
expense
limitation
agreement
whereby
Price
Associates
has
agreed
to
waive
and/or
bear
all
of
the
Z
Class’
expenses
(excluding
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage;
non-recurring,
extraordinary
expenses;
and
acquired
fund
fees
and
expenses)
in
their
entirety.
This
fee
waiver
and/or
expense
reimbursement
arrangement
is
expected
to
remain
in
place
indefinitely,
and
the
agreement
may
only
be
amended
or
terminated
with
approval
by
the
fund’s
Board.
Expenses
of
the
fund
waived/paid
by
the
manager
are
not
subject
to
later
repayment
by
the
fund.
Pursuant
to
these
agreements,
expenses
were waived/paid
by
and/or
repaid
to
Price
Associates
during
the six
months
ended June
30,
2025 as
indicated
in
the
table
below.
Including
these
amounts,
expenses
previously
waived/paid
by
Price
Associates
in
the
amount
of $638,000 remain
subject
to
repayment
by
the
fund
at
June
30,
2025. Any
repayment
of
expenses
previously
waived/paid
by
Price
Associates
during
the
period
would
be
included
in
the
net
investment
income
and
expense
ratios
presented
on
the
accompanying
Financial
Highlights.
T.
ROWE
PRICE
Small-Cap
Index
Fund
80
In
addition,
the
fund
has
entered
into
service
agreements
with
Price
Associates
and
a
wholly
owned
subsidiary
of
Price
Associates,
each
an
affiliate
of
the
fund
(collectively,
Price).
Price
Associates
provides
certain
accounting
and
administrative
services
to
the
fund.
T.
Rowe
Price
Services,
Inc.
provides
shareholder
and
administrative
services
in
its
capacity
as
the
fund’s
transfer
and
dividend-disbursing
agent.
For
the
six
months
ended
June
30,
2025,
expenses
incurred
pursuant
to
these
service
agreements
were
$63,000
for
Price
Associates
and
less
than
$1,000
for
T.
Rowe
Price
Services,
Inc.
All
amounts
due
to
and
due
from
Price,
exclusive
of
investment
management
fees
payable,
are
presented
net
on
the
accompanying
Statement
of
Assets
and
Liabilities.
T.
Rowe
Price
Investment
Services,
Inc.
(Investment
Services)
serves
as
distributor
to
the
fund.
Pursuant
to
an
underwriting
agreement,
no
compensation
for
any
distribution
services
provided
is
paid
to
Investment
Services
by
the
fund
(except
for
12b-1
fees
under
a
Board-approved
Rule
12b-1
plan).
Additionally,
the
fund
is
one
of
several
mutual
funds
in
which
certain
college
savings
plans
managed
by
Price
Associates invests.
As
approved
by
the
fund’s
Board
of
Directors,
shareholder
servicing
costs
associated
with
each
college
savings
plan
are
borne
by
the
fund
in
proportion
to
the
average
daily
value
of
its
shares
owned
by
the
college
savings
plan.
Price
has
agreed
to waive/reimburse
shareholder
servicing
costs in
excess
of
0.05%
of
the
fund’s
average
daily
value
of
its
shares
owned
by
the
college
savings
plan.
Any
amounts
waived/
paid
by
Price
under
this
voluntary
agreement
are
not
subject
to
repayment
by
the
fund.
Price
may
amend
or
terminate
this
voluntary
arrangement
at
any
time
without
prior
notice.
For
the
six
months ended
June
30,
2025,
the
fund
was
charged $23,000 for
shareholder
servicing
costs
related
to
the
college
savings
plans, of
which
$7,000
was
for
services
provided
by
Price.
All
amounts
due
to
and
due
from
Price,
exclusive
of
investment
management
fees
payable,
are
presented
net
on
the
accompanying
Statement
of
Assets
and
Liabilities. At
June
30,
2025,
approximately
94%
of
the
outstanding
shares
of
the
I
Class
were
held
by
college
savings
plans.
Investor
Class
I
Class
Z
Class
Expense
limitation/I
Class
Limit
0.29%
0.05%
0.00%
Expense
limitation
date
02/29/28
02/29/28
N/A
(Waived)/repaid
during
the
period
($000s)
$—
(1)
$(88)
$(111)
(1)
Amount
rounds
to
less
than
$1,000
T.
ROWE
PRICE
Small-Cap
Index
Fund
81
Mutual
funds,
trusts,
and
other
accounts
managed
by
Price
Associates
or
its
affiliates
(collectively,
Price
Funds
and
accounts)
may
invest
in
the
fund.
No
Price
fund
or
account
may
invest
for
the
purpose
of
exercising
management
or
control
over
the
fund.
At
June
30,
2025, 100%
of
the
Z
Class's
outstanding
shares
were
held
by
Price
Funds
and
accounts.
The fund
may
invest
its
cash
reserves
in
certain
open-end
management
investment
companies
managed
by
Price
Associates
and
considered
affiliates
of
the
fund:
the
T.
Rowe
Price
Government
Reserve
Fund
or
the
T.
Rowe
Price
Treasury
Reserve
Fund,
organized
as
money
market
funds
(together,
the
Price
Reserve
Funds).
The
Price
Reserve
Funds
are
offered
as
short-term
investment
options
to
mutual
funds,
trusts,
and
other
accounts
managed
by
Price
Associates
or
its
affiliates
and
are
not
available
for
direct
purchase
by
members
of
the
public.
Cash
collateral
from
securities
lending,
if
any,
is
invested
in
the
T.
Rowe
Price
Government
Reserve Fund. The
Price
Reserve
Funds
pay
no
investment
management
fees.
As
of
June
30,
2025,
T.
Rowe
Price
Group,
Inc.,
or
its
wholly
owned
subsidiaries,
owned
6,307
shares
of
the
Investor
Class,
representing
100%
of
the
Investor
Class's
net
assets. 
The fund may
participate
in
securities
purchase
and
sale
transactions
with
other
funds
or
accounts
advised
by
Price
Associates
(cross
trades),
in
accordance
with
procedures
adopted
by the
fund’s
Board
and
Securities
and
Exchange
Commission
rules,
which
require,
among
other
things,
that
such
purchase
and
sale
cross
trades
be
effected
at
the
independent
current
market
price
of
the
security.
During
the
six
months
ended
June
30,
2025,
the
fund
had
no
purchases
or
sales
cross
trades
with
other
funds
or
accounts
advised
by
Price
Associates.
NOTE
8
-
SEGMENT
REPORTING
Operating segments
are
defined
as
components
of
a
company
that
engage
in
business
activities
and
for
which
discrete
financial
information
is
available
and
regularly
reviewed
by
the
chief
operating
decision
maker
(CODM)
in
deciding
how
to
allocate
resources
and
assess
performance.
The
Management
Committee
of
Price
Associates
acts
as
the
fund’s
CODM.
The
fund
makes
investments
in
accordance
with
its
investment
objective
as
outlined
in
the
Prospectus
and
is
considered
one
reportable
segment
because
the
CODM
allocates
resources
and
assesses
the
operating
results
of
the
fund
on
the
whole.
T.
ROWE
PRICE
Small-Cap
Index
Fund
82
The
fund’s
revenue
is
derived
from
investments
in
a
portfolio
of
securities.
The
CODM
allocates
resources
and
assesses
performance
based
on
the
operating
results
of
the
fund,
which
is
consistent
with
the
results
presented
in
the
statement
of
operations,
statement
of
changes
in
net
assets
and
financial
highlights.
The
CODM
compares
the
fund’s
performance
to
its
benchmark
index
and
evaluates
the
positioning
of
the
fund
in
relation
to
its
investment
objective.
The
measure
of
segment
assets
is
net
assets
of
the
fund
which
is
disclosed
in
the
statement
of
assets
and
liabilities.
The accounting
policies
of
the
segment
are
the
same
as
those
described
in
the
summary
of
significant
accounting
policies.
The
financial
statements
include
all
details
of
the
segment
assets,
segment
revenue
and
expenses;
and
reflect
the
financial
results
of
the
segment.
NOTE
9
-
OTHER
MATTERS
Unpredictable environmental,
political,
social
and
economic
events,
including
but
not
limited
to,
environmental
or
natural
disasters,
war
and
conflict,
terrorism,
geopolitical
and
regulatory
developments
(including
trading
and
tariff
arrangements),
and
public
health
epidemics
or
threats,
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
a
fund
invests.
The
extent
and
duration
of
such
events
and
resulting
market
disruptions
cannot
be
predicted.
These
and
other
similar
events
may
cause
instability
across
global
markets,
including
reduced
liquidity
and
disruptions
in
trading
markets,
while
some
events
may
affect
certain
geographic
regions,
countries,
sectors,
and
industries
more
significantly
than
others,
and
exacerbate
other
pre-
existing
political,
social,
and
economic
risks.
The
fund’s
performance
could
be
negatively
impacted
if
the
value
of
a
portfolio
holding
were
harmed
by
these
or
such
events.
T.
ROWE
PRICE
Small-Cap
Index
Fund
83
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
Each
year,
the
fund’s
Board
of
Directors
(Board)
considers
the
continuation
of
the
investment
management
agreement
(Advisory
Contract)
between
the
fund
and
its
investment
adviser,
T.
Rowe
Price
Associates,
Inc.
(Adviser),
as
well
as
the
investment
subadvisory
agreement
(Subadvisory
Contract)
that
the
Adviser
has
entered
into
with
T.
Rowe
Price
International
Ltd
(Subadviser)
on
behalf
of
the
fund.
In
that
regard,
at
a
meeting
held
on
March
12–13,
2025
(Meeting),
the
Board,
including
all
of
the
fund’s
independent
directors
present
in
person
at
the
Meeting,
approved
the
continuation
of
the
fund’s
Advisory
Contract
and
Subadvisory
Contract.
At
the
Meeting,
the
Board
considered
the
factors
and
reached
the
conclusions
described
below
relating
to
the
selection
of
the
Adviser
and
Subadviser
and
the
approval
of
the
Advisory
Contract
and
Subadvisory
Contract.
The
independent
directors
were
assisted
in
their
evaluation
of
the
Advisory
Contract
and
Subadvisory
Contract
by
independent
legal
counsel
from
whom
they
received
separate
legal
advice
and
with
whom
they
met
separately.
In
providing
information
to
the
Board,
the
Adviser
was
guided
by
a
detailed
set
of
requests
for
information
submitted
by
independent
legal
counsel
on
behalf
of
the
independent
directors.
In
considering
and
approving
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract,
the
Board
considered
the
information
it
believed
was
relevant,
including,
but
not
limited
to,
the
information
discussed
below.
The
Board
considered
not
only
the
specific
information
presented
in
connection
with
the
Meeting,
but
also
the
knowledge
gained
over
time
through
interaction
with
the
Adviser
and
Subadviser
about
various
topics.
The
Board
meets
regularly
and,
at
each
of
its
meetings,
covers
an
extensive
agenda
of
topics
and
materials
and
considers
factors
that
are
relevant
to
its
annual
consideration
of
the
renewal
of
the
T.
Rowe
Price
funds’
advisory
contracts,
including
performance
and
the
services
and
support
provided
to
the
funds
and
their
shareholders.
Services
Provided
by
the
Adviser
and
Subadviser
The
Board
considered
the
nature,
quality,
and
extent
of
the
services
provided
to
the
fund
by
the
Adviser
and
Subadviser.
These
services
included,
but
were
not
limited
to,
directing
the
fund’s
investments
in
accordance
with
its
investment
program
and
the
overall
management
of
the
fund’s
portfolio,
as
well
as
a
variety
of
related
activities
such
as
financial,
investment
operations,
and
administrative
services;
compliance;
maintaining
the
fund’s
records
and
registrations;
and
shareholder
communications.
The
Board
also
reviewed
the
background
and
experience
of
the
Adviser’s
and
Subadviser’s
senior
management
teams
and
investment
personnel
involved
in
the
management
of
the
fund,
as
well
as
the
Adviser’s
compliance
record.
The
Board
concluded
that
the
information
it
considered
with
respect
to
the
nature,
quality,
and
extent
of
the
services
provided
by
the
Adviser
and
Subadviser,
as
well
as
the
other
factors
considered
at
the
Meeting,
supported
the
Board’s
approval
of
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract.
T.
ROWE
PRICE
Small-Cap
Index
Fund
84
Investment
Performance
of
the
Fund
The
Board
took
into
account
discussions
with
the
Adviser
and
detailed
reports
that
it
regularly
receives
throughout
the
year
on
relative
and
absolute
performance
for
the
T.
Rowe
Price
funds.
In
connection
with
the
Meeting,
the
Board
reviewed
information
provided
by
the
Adviser
that
compared
the
fund’s
total
returns,
as
well
as
a
wide
variety
of
other
previously
agreed-upon
performance
measures
and
market
data,
against
relevant
benchmark
indexes
and
peer
groups
of
funds
with
similar
investment
programs
for
various
periods
through
December
31,
2024.
Additionally,
the
Board
reviewed
the
fund’s
relative
performance
information
as
of
September
30,
2024,
which
ranked
the
returns
of
the
fund’s
Investor
Class
for
various
periods
against
a
universe
of
funds
with
similar
investment
programs
selected
by
Broadridge,
an
independent
provider
of
mutual
fund
data.
In
the
course
of
its
deliberations,
the
Board
considered
performance
information
provided
throughout
the
year
and
in
connection
with
the
Advisory
Contract
review
at
the
Meeting,
as
well
as
information
provided
during
investment
review
meetings
conducted
with
portfolio
managers
and
senior
investment
personnel
during
the
course
of
the
year
regarding
the
fund’s
performance.
The
Board
also
considered
relevant
factors,
such
as
overall
market
conditions
and
trends
that
could
adversely
impact
the
fund’s
performance,
length
of
the
fund’s
performance
track
record,
and
how
closely
the
fund’s
strategies
align
with
its
benchmarks
and
peer
groups.
The
Board
concluded
that
the
information
it
considered
with
respect
to
the
fund’s
performance,
as
well
as
the
other
factors
considered
at
the
Meeting,
supported
the
Board’s
approval
of
the
continuation
of
the
Advisory
Contract.
Costs,
Benefits,
Profits,
and
Economies
of
Scale
The
Board
reviewed
detailed
information
regarding
the
revenues
received
by
the
Adviser
under
the
Advisory
Contract
and
other
direct
and
indirect
benefits
that
the
Adviser
(and
its
affiliates,
including
the
Subadviser)
may
have
realized
from
its
relationship
with
the
fund.
In
considering
soft-dollar
arrangements,
the
Board
noted
that,
effective
January
1,
2024,
the
Adviser
began
using
brokerage
commissions
in
connection
with
certain
T.
Rowe
Price
funds’
securities
transactions
to
pay
for
research
when
permissible,
and
the
Board
considered
that
the
Adviser
may
receive
some
benefit
from
soft-dollar
arrangements
pursuant
to
which
research
is
received
from
broker-dealers
that
execute
the
applicable
fund’s
portfolio
transactions.
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
85
The
Board
received
information
on
the
estimated
costs
incurred
and
profits
realized
by
the
Adviser
from
managing
the
T.
Rowe
Price
funds.
While
the
Board
did
not
review
information
regarding
profits
realized
from
managing
the
fund
in
particular
because
the
fund
had
either
not
achieved
sufficient
portfolio
asset
size
or
not
recognized
sufficient
revenues
to
produce
meaningful
profit
margin
percentages,
the
Board
concluded
that
the
Adviser’s
profits
were
reasonable
in
light
of
the
services
provided
to
the
T.
Rowe
Price
fund.
The
Board
also
considered
whether
the
fund
benefits
under
the
fee
levels
set
forth
in
the
Advisory
Contract
or
otherwise
from
any
economies
of
scale
realized
by
the
Adviser.
Under
the
Advisory
Contract,
the
fund
pays
a
fee
to
the
Adviser
for
investment
management
services
based
on
the
fund’s
average
daily
net
assets
and
the
fund
pays
its
own
expenses
of
operations.
Under
the
Subadvisory
Contract,
the
Adviser
may
pay
the
Subadviser
up
to
60%
of
the
advisory
fees
that
the
Adviser
receives
from
the
fund.
The
fund’s
shareholders
benefit
from
potential
economies
of
scale
through
a
decline
in
certain
operating
expenses
as
the
fund
grows
in
size.
However,
the
fund
is
also
subject
to
contractual
expense
limitations
that
require
the
Adviser
to
waive
its
fees
and/or
bear
any
expenses
that
would
otherwise
cause
the
expenses
of
a
share
class
of
the
fund
to
exceed
a
certain
percentage
based
on
the
class’s
net
assets.
The
expense
limitations
mitigate
the
potential
for
an
increase
in
operating
expenses
above
a
certain
level
that
could
impact
shareholders.
The
fund
also
offers
a
Z
Class,
which
serves
as
an
underlying
investment
within
certain
T.
Rowe
Price
fund
of
fund
arrangements.
The
Adviser
waives
its
advisory
fee
on
the
Z
Class
and
waives
or
bears
the
Z
Class’s
other
operating
expenses,
with
certain
exceptions.
The
Board
considered
whether
the
advisory
fee
and
operating
expense
waivers
on
the
Z
Class
may
present
a
means
for
cross-
subsidization
of
the
Z
Class
by
other
share
classes
of
the
fund.
In
that
regard,
the
Board
noted
that
the
Z
Class
operating
expenses
are
covered
by
the
all-inclusive
fees
charged
by
the
investing
T.
Rowe
Price
fund
of
funds
and
that
any
Z
Class
operating
expenses
not
covered
by
the
investing
T.
Rowe
Price
funds
of
funds’
fees
are
paid
by
the
Adviser
and
not
by
shareholders
of
any
other
share
class
of
the
fund.
In
addition,
the
Board
noted
that
the
fund
potentially
shares
in
indirect
economies
of
scale
through
the
Adviser’s
ongoing
investments
in
its
business
in
support
of
the
T.
Rowe
Price
funds,
including
investments
in
trading
systems,
technology,
and
regulatory
support
enhancements,
and
the
ability
to
possibly
negotiate
lower
fee
arrangements
with
third-party
service
providers.
The
Board
concluded
that
the
advisory
fee
structure
for
the
fund
provides
for
a
reasonable
sharing
of
benefits
from
any
economies
of
scale
with
the
fund’s
investors.
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
86
Fees
and
Expenses
The
Board
was
provided
with
information
regarding
industry
trends
in
management
fees
and
expenses.
Among
other
things,
the
Board
reviewed
data
for
peer
groups
that
were
compiled
by
Broadridge,
which
compared:
(i)
contractual
management
fees,
actual
management
fees,
nonmanagement
expenses,
and
total
expenses
of
the
Investor
Class
of
the
fund
with
a
group
of
competitor
funds
selected
by
Broadridge
(Expense
Group);
and
(ii)
actual
management
fees,
nonmanagement
expenses,
and
total
expenses
of
the
Investor
Class
of
the
fund
with
a
broader
set
of
funds
within
the
Lipper
investment
classification
(Expense
Universe).
The
Board
considered
the
fund’s
contractual
management
fee
rate,
actual
management
fee
rate
(which
reflects
the
management
fees
actually
received
from
the
fund
by
the
Adviser
after
any
applicable
waivers,
reductions,
or
reimbursements),
operating
expenses,
and
total
expenses
(which
reflect
the
net
total
expense
ratio
of
the
fund
after
any
waivers,
reductions,
or
reimbursements)
in
comparison
with
the
information
for
the
Broadridge
peer
groups.
Broadridge
generally
constructed
the
peer
groups
by
seeking
the
most
comparable
funds
based
on
similar
investment
classifications
and
objectives,
expense
structure,
asset
size,
and
operating
components
and
attributes
and
ranked
funds
into
quintiles,
with
the
first
quintile
representing
the
funds
with
the
lowest
relative
expenses
and
the
fifth
quintile
representing
the
funds
with
the
highest
relative
expenses.
The
information
provided
to
the
Board
indicated
that
the
fund’s
contractual
management
fee
ranked
in
the
second
quintile
(Expense
Group),
the
fund’s
actual
management
fee
rate
ranked
in
the
first
quintile
(Expense
Group
and
Expense
Universe),
and
the
fund’s
total
expenses
ranked
in
the
fourth
quintile
(Expense
Group
and
Expense
Universe).
The
Board
also
reviewed
the
fee
schedules
for
other
investment
portfolios
with
similar
mandates
that
are
advised
or
subadvised
by
the
Adviser
and
its
affiliates,
including
separately
managed
accounts
for
institutional
and
individual
investors;
subadvised
funds;
and
other
sponsored
investment
portfolios,
including
collective
investment
trusts
and
pooled
vehicles
organized
and
offered
to
investors
outside
the
United
States.
The
fee
schedules,
which
are
subject
to
change,
may
be
negotiated
under
certain
circumstances
and
may
differ
across
regions.
Management
provided
the
Board
with
information
about
the
Adviser’s
responsibilities
and
services
provided
to
subadvisory
and
other
institutional
account
clients,
including
information
about
how
the
requirements
and
economics
of
the
institutional
domestic
and
international
businesses
are
fundamentally
different
from
those
of
the
proprietary
mutual
fund
and
ETF
(“registered
fund”)
business.
The
Board
considered
information
showing
that
the
Adviser’s
registered
fund
business
is
generally
more
complex
from
a
business
and
compliance
perspective
than
its
other
domestic
and
international
businesses
and
considered
various
relevant
factors,
such
as
the
broader
scope
of
operations
and
oversight,
more
extensive
shareholder
communication
infrastructure,
greater
asset
flows,
heightened
business
risks,
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
87
and
differences
in
applicable
laws
and
regulations
associated
with
the
Adviser’s
proprietary
registered
fund
business.
In
assessing
the
reasonableness
of
the
fund’s
management
fee
rate,
the
Board
considered
the
differences
in
the
nature
of
the
services
required
for
the
Adviser
to
manage
its
registered
fund
business
versus
managing
a
discrete
pool
of
assets
as
a
subadviser
to
another
institution’s
mutual
fund
or
for
an
institutional
account
and
that
the
Adviser
generally
performs
significant
additional
services
and
assumes
greater
risk
in
managing
the
fund
and
other
T.
Rowe
Price
funds
than
it
does
for
institutional
account
clients,
including
subadvised
funds.
On
the
basis
of
the
information
provided
and
the
factors
considered,
the
Board
concluded
that
the
fees
paid
by
the
fund
under
the
Advisory
Contract
are
reasonable.
Approval
of
the
Advisory
Contract
and
Subadvisory
Contract
As
noted,
the
Board
approved
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract.
No
single
factor
was
considered
in
isolation
or
to
be
determinative
to
the
decision.
Rather,
the
Board
concluded,
in
light
of
a
weighting
and
balancing
of
all
factors
considered,
that
it
was
in
the
best
interests
of
the
fund
and
its
shareholders
for
the
Board
to
approve
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract
(including
the
fees
to
be
charged
for
services
thereunder).
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
1307
Point
Street
Baltimore,
Maryland
21231
T.
Rowe
Price
Investment
Services,
Inc.
Call
1-800-225-5132
to
request
a
prospectus
or
summary
prospectus;
each
includes
investment
objectives,
risks,
fees,
expenses,
and
other
information
that
you
should
read
and
consider
carefully
before
investing.
F33-051
8/25

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

Remuneration paid to Directors is included in Item 7 of this Form N-CSR.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

If applicable, see Item 7.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 15. Submission of Matters to a Vote of Security Holders.

There has been no change to the procedures by which shareholders may recommend nominees to the registrant’s board of directors.

Item 16. Controls and Procedures.

(a) The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized, and reported timely.

(b) The registrant’s principal executive officer and principal financial officer are aware of no change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

 

Item 19. Exhibits.

 

(a)(1)  

The registrant’s code of ethics pursuant to Item 2 of Form N-CSR is filed with the registrant’s annual Form N-CSR.

   (2)   Listing standards relating to recovery of erroneously awarded compensation: Not applicable.
   (3)  

Separate certifications by the registrant’s principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached.

(b)     

A certification by the registrant’s principal executive officer and principal financial officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(b) under the Investment Company Act of 1940, is attached.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

T. Rowe Price Index Trust, Inc.
By  

/s/ David Oestreicher

      
  David Oestreicher  
  Principal Executive Officer  
Date    August 19, 2025  

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By  

/s/ David Oestreicher

      
  David Oestreicher  
  Principal Executive Officer  
Date   

August 19, 2025

  

 

By  

/s/ Alan S. Dupski

      
  Alan S. Dupski  
  Principal Financial Officer  
Date   

August 19, 2025

  
 
ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

302 CERTIFICATIONS

906 CERTIFICATIONS

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